Volvo AB (VLVLY) on Friday reported income before tax of SEK 12.136 billion for the third quarter, lower than SEK 13.573 billion for the same quarter a year ago, primarily hurt by lower sales.
Operating income declined to SEK 12.517 billion from SEK 14.074 billion last year, while adjusted operating income, excluding one-time items, decreased to SEK 11.71 billion from SEK 14.07 billion.
The company said operating income was negatively affected by higher material, manufacturing, and tariff costs.
Net income was SEK 7.540 billion or SEK 3.71 per share, compared with SEK 10.017 billion or SEK 4.93 per share a year earlier.
Sales for the period fell 5% to SEK 110.69 billion from SEK 116.98 billion, with vehicle sales 1% lower than in the third quarter of 2024 when adjusted for currency.
The company added that in the third quarter, the net tariff impact was negative by approximately SEK 500 million, with more than half affecting the Construction Equipment segment. It expects the net tariff impact in the fourth quarter to be around SEK 1 billion.
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