AB Volvo GAAP EPS of SEK 1.79, revenue of SEK 101.5B; lowers FY24 retail sales outlook

AB Volvo (publ) (OTCPK:VLVLY) lowered its full-year retail gross sales forecast, citing the influence of European tariffs on Chinese language-made EVs, and experiences document core EBIT of SEK 8.2 billion in Q2 2024. Q2 GAAP EPS of SEK 1.79. Income of SEK 101.5B (-0.7% Y/Y). Retail gross sales elevated by 15% and reached 205.4 thousand automobiles. EBIT excluding share of earnings in JVs and associates was SEK 8.2B, supported by increased quantity in addition to decrease value. Working and investing money circulate was SEK 0.1B. Outlook: For 2024, Volvo Automobiles expects retail gross sales to develop by 12-15%, supplied there are not any main disruptions (earlier outlook: increased Y/Y development fee in retail gross sales than in 2023). From 2026 onwards, Volvo Automobiles expects to ship sturdy money flows as the size of investments declines, and it begins to reap the long-term advantages of its technique with increased income and profitability.