April 23, 2020 / 5:32 AM / a month ago

Truck maker Volvo Q1 profit falls less than expected

STOCKHOLM, April 23 (Reuters) - Swedish truck maker AB Volvo reported a smaller-than-expected fall in first-quarter operating earnings on Thursday but warned its net order intake of trucks had been negative since the end of March as customers cancelled planned purchases due to the pandemic.

Adjusted operating profit at the maker of trucks, construction equipment, buses and engines fell to 7.1 billion Swedish crowns ($704 million) from a year-ago 12.7 billion to come in above analysts’ mean forecast of 6.0 billion, according to Refinitiv estimates. ($1 = 10.0825 Swedish crowns) (Reporting by Niklas Pollard; editing by Johannes Hellstrom)

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