“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
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
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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.