Volvo Group Profit Misses Forecast; Sees SEK 1.2 Billion Tariff Hit
Volvo Group's first-quarter operating profit missed forecasts, even as truck order intake climbed 14% on stronger activity in the Americas and Europe. The company said it expects a SEK 1.2 billion negative tariff effect in the second quarter, with the biggest impact on its construction equipment segment.
Volvo also highlighted weaker truck demand in key markets. The North American truck market fell 23% year-to-date through March, while Brazil's truck market declined 21% from a year earlier, pressured by rates, tariffs and energy costs.
From the sources (6 posts)
@firstsquawkVolvo posts 12% growth in equipment deliveries, supported by strong regional demand
@firstsquawkVolvo forecasts SEK 1.2 billion negative tariff effect in Q2, largely impacting construction equipment segment
@firstsquawkVolvo reports 23% decline in North American truck market year-to-date through March
@firstsquawkBrazil truck market declines 21% versus last year, pressured by rates, tariffs, and energy costs, says Volvo
@businessVolvo's truck order intake climbed 14% in the first quarter on stronger activity in the Americas and Europe
@reutersbizTruckmaker Volvo Group's Q1 operating profit lags forecast