Volvo AB Class B

VOLV B: XSTO (SWE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Volvo Group Earnings: North American Truck Recovery Coming Through; Increase Fair Value Estimate

Rella Suskin

Oct 23, 2026

Volvo reported 8% group net sales growth in the third quarter, driven by 11% growth in total truck deliveries and 42% growth in North American truck deliveries. Operational leverage at Trucks North America improved the adjusted operating margin to 12.1%, excluding tariff refund tailwinds.

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Volvo AB Class B

Volvo Group Earnings: North American Truck Recovery Coming Through; Increase Fair Value Estimate

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