Volvo AB Class B

VOLV B: XSTO (SWE)

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Volvo Earnings: Resilient Margins Despite Lower Truck Deliveries

Rella Suskin , Andrea Burigana

Apr 24, 2026

Despite a 9% contraction in net sales, Volvo reported a first-quarter adjusted operating margin of 11%, up 10 basis points year over year, once again highlighting the resilience of its business model. Truck deliveries fell 3%, as a 34% decline in North America offset growth in other regions.

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Volvo AB Class B

Volvo Earnings: Resilient Margins Despite Lower Truck Deliveries

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