AB Volvo notched a 38% gain in net income as record third-quarter revenue was lifted by stronger truck orders and deliveries.
The earnings announcement landed shortly after Volvo reported an emissions-control component on trucks used primarily in North America and Europe is degrading more quickly than expected and could cause the engines to exceed emissions limits for nitrogen oxides.
Meanwhile, for the period ended Sept. 30, Volvo — which reports in Swedish krona — earned the equivalent of $830 million, or 41 cents a share, on global revenue of $10.25 billion. In the 2017 third quarter, the company had net income of $600 million, or 30 cents, on sales of $8.48 billion.
