Volvo Group - the third quarter 2026

Industrial Operations returned to positive operating cash flow, while earnings per share increased to SEK 5.29.

Rhea-AI Summary

Volvo Group (VLVLY) reported third-quarter 2026 net sales of SEK 119.5 billion, an increase from the same quarter last year. Sales rose 8% from SEK 110.7 billion, with organic growth of 7%. Vehicle and service sales grew organically by 8% and 5%, respectively.

Adjusted operating income rose to SEK 14,693 million from SEK 11,707 million, with its margin increasing to 12.3% from 10.6%. Reported operating income reached SEK 14,354 million versus SEK 12,517 million, and its margin rose to 12.0% from 11.3%. Adjusted income excluded SEK 339 million in costs; the prior-year quarter excluded a positive SEK 811 million effect. Currency movements supported operating income by SEK 970 million.

Earnings per share rose to SEK 5.29 from SEK 3.71. Industrial Operations cash flow improved to SEK 7,195 million from negative SEK 1,739 million, while return on capital employed rose to 27.5% from 25.2%.

11 points · 0 major

PositiveiHow this balance works

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0 major · 1 point

How the balance works

Positive

• Moderate pointQ3 2026 net sales increased 8% year over year to SEK 119.5 billion, with 7% organic growth.
• Moderate pointAdjusted operating income rose to SEK 14,693 million from SEK 11,707 million in Q3 2025.
• Moderate pointReported operating income rose to SEK 14,354 million from SEK 12,517 million in Q3 2025.
• Moderate pointIndustrial Operations operating cash flow improved to SEK 7,195 million from negative SEK 1,739 million in Q3 2025.
• Minor pointAdjusted operating margin increased to 12.3% from 10.6% in Q3 2025.

6 minor points

• Minor pointReported operating margin increased to 12.0% from 11.3% in Q3 2025.
• Minor pointEarnings per share increased to SEK 5.29 from SEK 3.71 in Q3 2025.
• Minor pointIndustrial Operations return on capital employed increased to 27.5% from 25.2%.
• Minor pointVehicle sales grew 8% organically in Q3 2026.
• Minor pointService sales grew 5% organically in Q3 2026.
• Minor pointCurrency movements positively affected Q3 2026 operating income by SEK 970 million compared with Q3 2025.

Negative

• Minor pointSEK 339 million in costs were excluded from Q3 2026 adjusted operating income.

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GOTHENBURG, Sweden, Oct. 23, 2026 /PRNewswire/ -- "The positive development in the Volvo Group's performance continued in Q3. We delivered net sales of SEK 119.5 billion, with an organic sales growth of 7%. Vehicle sales increased by 8% and service sales grew by 5% organically. We maintained good profitability, with adjusted operating income of SEK 14.7 billion (11.7) and an adjusted operating margin of 12.3% (10.6), supported by dedicated work across the Group. Operating cash flow in the Industrial Operations improved to SEK 7.2 billion," says Martin Lundstedt, President and CEO.

• In Q3 2026, net sales increased by 8% and amounted to SEK 119.5 billion (110.7). The organic sales growth was 7%.
• Adjusted operating income amounted to SEK 14,693 M (11,707), corresponding to an adjusted operating margin of 12.3% (10.6). In Q3 2026, costs of SEK 339 M were excluded from adjusted operating income. In Q3 2025, a positive effect of SEK 811 M was excluded.
• Reported operating income amounted to SEK 14,354 M (12,517), corresponding to an operating margin of 12.0% (11.3).
• Compared with Q3 2025, currency movements had a positive impact on operating income amounting to SEK 970 M.
• Earnings per share amounted to SEK 5.29 (3.71).
• Operating cash flow in the Industrial Operations amounted to SEK 7,195 M (-1,739).
• Return on capital employed in the Industrial Operations amounted to 27.5% (25.2).

Press and Analyst Conference Call. An online presentation of the report, followed by a question and answer session will start at 09:00 CEST. Link to webcast: qreport.volvogroup.com.

More information, including an interview with CEO Martin Lundstedt, will soon be available on www.volvogroup.com/en/investors.

October 23, 2026

This information is information that AB Volvo (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 07:20 CEST on October 23, 2026.

Aktiebolaget Volvo (publ) 556012-5790

For more information, please visit volvogroup.com
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The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers' uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs almost 100,000 people and serves customers in almost 180 markets. In 2025, net sales amounted to SEK 479 billion (EUR 43 billion). Volvo shares are listed on Nasdaq Stockholm.

Investor Relations
SE-405 08 Göteborg, Sweden
Tel +46 31 66 00 00
www.volvogroup.com

Contact Media Relations:
Claes Eliasson +46 765 53 72 29

Contacts Investor Relations:
Johan Bartler   +46 739 02 21 93
Anders Christensson +46 765 53 59 66

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/ab-volvo/r/volvo-group---the-third-quarter-2026,c4414202

The following files are available for download:

https://mb.cision.com/Main/39/4414202/4335540.pdf	Volvo Group â€" Report on the third quarter 2026
https://news.cision.com/ab-volvo/i/261023-q3-1860x1050,c3575527	261023-Q3-1860x1050
https://mb.cision.com/Public/39/4414202/a7558d8e51a9dac2.pdf	Press release â€" Volvo Group - the third quarter 2026

 

 

View original content:https://www.prnewswire.com/news-releases/volvo-group--the-third-quarter-2026-302917821.html

SOURCE AB Volvo

FAQ

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What were Volvo Group's earnings and operating margins in Q3 2026?

Volvo Group reported earnings per share of SEK 5.29, compared with SEK 3.71 in Q3 2025. Reported operating margin increased to 12.0% from 11.3%, while adjusted operating margin increased to 12.3% from 10.6%.