Volvo AB

Earnings data Q1 2021

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Volvo AB engages in the design, manufacture, and market of commercial vehicles. It operates through the following segments: Trucks, Construction Equipment, Buses, Volvo Penta, and Financial Services. The Trucks segment includes the production, development, and logistics for powertrain and parts. The Volvo Penta segment markets marine and industrial engines. The company was founded by Assar-Thorvald Nathanael-Gabrielsson and Erik Gustaf Larson in 1927 and is headquartered in Goteborg, Sweden.

Sweden's Volvo Cars on Thursday reported a 21% rise in car sales in July from a year earlier, selling 54,165 cars, the company's 11th consecutive month of year-over-year growth.

Volvo Cars sales up 21% year-on-year in July

Volvo Car Group is focusing on electrification and improving their battery electric vehicle efforts to increase gross margins. The 2Q23 gross margin for BEVs was only 3%, but the company plans to address this issue with new BEVs built on a better platform with newer technology and higher range. Volvo Car Group's valuation range is estimated to be $15.4 billion to $19.2 billion, and the current market cap is $14.8 billion, making the stock a potential buy for long-term investors.

Volvo Car Group Plans To Improve BEV Margins

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We continue with our recurring series based on analyzing mid-cap stocks that have enjoyed periods unusual insider interest during the second quarter of the year. An overwhelming trend of bank insiders buying stakes in the regional banking sector still pursues, with insiders signaling that the banking crisis was largely overblown in our view. Today, we are dissecting insider purchases from notable insiders in Zions Bancorporation, Luminar Technologies, GameStop Corporation, East West Bancorp, and Ameris Bancorp.

Strong Mid-Cap Insider Buys: Q2 2023

Tesla

The automotive industry has recently suffered issues related to supply chains and the cost of materials crucial to the production of electric vehicles.

Volvo Cars will use Tesla's Superchargers but not its autonomous driving tech. Its CEO explains why

Q2 revenue was SEK 102.2 bn (SEK 71.3 bn in Q2 2022) Q2 EBIT (excluding JVs and associates) was SEK 6.4 bn (SEK 4.6 bn in Q2 2022) Q2 EBIT was SEK 5.0 bn (SEK 10.8 bn in Q2 2022) Q2 EBIT margin, excluding JVs and associates and without non-recurring items, was 7.2 per cent Q2 EBIT margin (excluding JVs and associates) was 6.3 per cent (6.5 per cent in Q2 2022) Q2 EBIT margin was 4.9 per cent (15.1 per cent in Q2 2022) Q2 basic earnings per share was SEK 1.12 (SEK 3.00 in Q2 2022) Q2 fully electric car sales share at 16 per cent (7 per cent in Q2 2022) GOTHENBURG, Sweden , July 20, 2023 /PRNewswire/ -- Volvo Cars today reports a 39 per cent increase in operating profits, excluding joint ventures and associates, to SEK 6.4 bn and a corresponding EBIT margin of 6.3 per cent for the second quarter of 2023. The result came despite a SEK 0.9 bn, non-recurring item related to the redundancy programme announced in May, part of securing a more efficient and sustainable cost base for the future.

Volvo Cars Q2 results: full speed ahead in transformation with a solid business performance

Sweden-based automaker Volvo Cars reported a 54% fall in second-quarter operating earnings on Thursday.

Volvo Cars' Q2 operating profit tumbles

Westport Fuel Systems

Shares rallied to new multi-month highs after the company disclosed a letter of intent to contribute its HPDI fuel system technology to a new joint venture with key customer Volvo Group. With Volvo expected to acquire 45% of the proposed joint venture for approximately $28 million, the company's HPDI assets would be valued at $62.2 million. Depending on the performance of the joint venture, Volvo has committed to invest up to an additional $45 million.

Westport Fuel Systems: Proposed JV With Volvo Is Positive But Risk Of Near-Term Dilution Remains

AB Volvo (publ) (OTCPK:VOLAF) Q2 2023 Earnings Call Transcript July 19, 2023 3:00 AM ET Company Participants Johan Bartler - Head of IR Jan Ytterberg - CFO Martin Lundstedt - CEO Conference Call Participants Klas Bergelind - Citigroup Jose Asumendi - JPMorgan Erik Golrang - SEB Daniela Costa - Goldman Sachs Agnieszka Vilela - Nordea Olof Cederholm - ABG Jan Ytterberg Warm welcome to the Interim Report Presentation for the Second Quarter. We will start in a little unorthodox way.

AB Volvo (publ) (VOLAF) Q2 2023 Earnings Call Transcript

Swedish truck maker AB Volvo on Wednesday reported a bigger-than-expected jump in second-quarter adjusted operating profit and raised its outlook for the European and North American markets.

Truck maker Volvo raises outlook for market after Q2 profit jump

GOTHENBURG, Sweden , July 19, 2023 /PRNewswire/ -- "In Q2 2023, the Volvo Group continued to perform well, with continued growth and improved profitability. We increased our net sales by 18% to SEK 140.8 billion and the adjusted operating income by SEK 8.0 billion to SEK 21.7 billion, corresponding to an adjusted operating margin of 15.4% (11.6).

Volvo Group - the second quarter 2023

AB Volvo is a leading global manufacturer of trucks, buses, construction equipment, and marine and industrial engines. The company is successfully transitioning to EVs. The company has grown well in the last decade, owing to its strong brand, deep industry expertise and innovation, and global presence. There is a concern with slowing demand and threats from China, however, thus far, its diversified model has allowed the business to remain resilient.

Volvo: Driving Sustainable Innovation In The Transportation Industry

Fully electric vehicle sales more than quadrupled last month from a year earlier.

Like Tesla and BYD, Volvo Cars Posts Huge Spike in Electric Vehicle Sales

Sweden-based Volvo Cars on Wednesday reported a 33% rise in car sales in June from a year earlier, to 66,379 cars.

Volvo Cars June sales up 33% as fully electric car sales quadruple

GOTHENBURG, Sweden , July 5, 2023 /PRNewswire/ --  The Volvo Group report for the second quarter 2023 will be published on July 19, at 7.20 a.m. CEST. There will be a conference call for press  and analysts starting at 9.00 a.m.

Invitation to the Volvo Group report on the second quarter 2023

Volvo Car is making serious strides towards electrification, having joined Tesla's North American Charging Standard and aiming to be a fully electric car maker by 2030. The new EX30 SUV BEV model is expected to democratize electrification due to its lower price point. Financial presentations from Volvo's Capital Markets Update show a viable path to BEVs with cost-cutting developments such as cell-to-body battery packs.

Volvo Car: Serious About Electrification

GOTHENBURG, Sweden , June 29, 2023 /PRNewswire/ -- Mats Backman has been appointed as Chief Financial Officer and a new member of Volvo Group's Executive Board. He will succeed Jan Ytterberg, who as previously communicated, will continue as Volvo Group senior advisor.

Mats Backman new Chief Financial Officer and member of the Volvo Group Executive Board

Swedish carmaker Volvo Cars said on Tuesday it had signed an agreement with Tesla to give its electric vehicles (EVs) access to the EV maker's Supercharger network in the United States, Canada and Mexico.

Volvo EVs to now have access to Tesla superchargers

Volvo becomes latest automaker to adopt Tesla EV charging standard

Volvo Cars is joining a growing EV industry migration to the NACS charging-plug standard originated by Tesla.

Volvo just became the latest EV maker to move to Tesla's charging standard

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Is Volvo (VLVLY) a Great Value Stock Right Now?

GOTHENBURG, Sweden , June 20, 2023 /PRNewswire/ -- Volvo Group has signed an agreement to collaborate with Heidelberg Materials, one of the largest building materials companies in the world. The aim is to reduce carbon emissions in the construction sector by jointly investigating and developing how loading and hauling needs can be solved with the help of electrified vehicles and related services.

Volvo Group partners with Heidelberg Materials to reduce emissions in construction industry

AB Volvo (VLVLY) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.

Despite Fast-paced Momentum, AB Volvo (VLVLY) Is Still a Bargain Stock

GOTHENBURG, Sweden , June 12, 2023 /PRNewswire/ -- Volvo Group Venture Capital AB invests in the Madrid based company Trucksters, a transport operator focused on providing long-distance transportation through an innovative truck relay system based on big data and artificial intelligence. "The company Trucksters is using advanced algorithms and AI to manage long-haul relay transportation through Europe providing faster, safer and more sustainable transports.

Volvo Group Venture Capital AB invests in Trucksters, managing innovative relay trucking in Europe

AB Volvo (VLVLY) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

AB Volvo (VLVLY) Upgraded to Strong Buy: What Does It Mean for the Stock?

GOTHENBURG, Sweden , June 8, 2023 /PRNewswire/ -- Volvo Autonomous Solutions (V.A.S.) expands its footprint in North America with the establishment of an office in Texas and starts manual operations in preparation for commercial autonomous hub-to-hub transport.

Volvo Autonomous Solutions expands its footprint and starts operations in Texas

News for Volvo AB Stock (VLVLY)