Sweden's Volvo Q1 sales slightly miss estimates, currency impact hurts operating income

Volvo AB

24/04/2026 06:30

Overview

Sweden transport solutions provider's Q1 net sales fell 9% yr/yr, slightly missing analyst expectations

Adjusted operating income for Q1 declined but margin inched up to 11.0%

Company cites lower market volumes but strong order intake despite geopolitical uncertainties

Outlook

Company did not provide specific guidance for future quarters or the full year

Result Drivers

LOWER MARKET VOLUMES - Co said net sales fell due to lower market volumes

STRONG ORDER INTAKE - Co said customer confidence remained strong, reflected in good order intake and low cancellations, per CEO Martin Lundstedt

CURRENCY IMPACT - Currency movements had a negative impact on operating income of SEK 1,112 mln

Company press release: ID:nWkr7wZNgF

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Miss*
SEK 110.80 bln
SEK 111.78 bln (8 Analysts)
Q1 EPS
SEK 4.09
Q1 Adjusted Operating Income
Beat
SEK 12.17 bln
SEK 11.39 bln (8 Analysts)
Q1 Adjusted Operating Margin
11.00%


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 9 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the heavy machinery & vehicles peer group is "buy"

Wall Street's median 12-month price target for Volvo AB is SEK345.00, about 8.8% above its April 23 closing price of SEK317.20

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 14 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)