Volvo AB : A solid Q3 and reassuring tone on 2024 despite expected market decline
>Q3 still very robust, soft landing in 2024? - Yesterday morning, Volvo published solid Q3 2023 results (first take here) that came well ahead of expectations (17% above the consensus EBIT, 15% for EPS) driven by a persistently solid performance in trucks (adjusted EBIT 22% ahead consensus), partly offset by a slowdown in the construction equipment segment (EBIT -8% miss vs consensus, margin down 300bp vs Q2). With regards to 2024, Volvo presented its market outlook f...Volvo is a manufacturer of trucks, buses, construction equipment and marine and industrial engines. Co.'s activities are organized into six areas: Group Trucks, which sells and markets trucks under Eicher, Mack, Renault Trucks, UD Trucks and Volvo brands; Construction Equipment, which includes equipment for construction and related industries; Buses, which includes buses and bus chassis for city, intercity and coach traffic; Volvo Penta, which manufactures engines and drive systems for boats and commercial craft; Governmental Sales, which manufactures special-purpose vehicles; and Volvo Financial Services, providing customer financing and leasing, dealer financing and fee based products.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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