Scania Posts Lower Q1 Profit

Scania AB

reported a drop in its first-quarter earnings. Scania's quarterly net profit fell to SEK1.40 billion, versus SEK1.79 billion, in the year-ago period. However, analysts were expecting a profit of SEK1.52 billion. Its revenue dropped to SEK19.34 billion from SEK20.13 billion, while operating profit declined to SEK1.93 billion from SEK2.32 billion. However, analysts were expecting revenue of SEK20.03 billion and operating profit of SEK2.01 billion. Its operating margin narrowed to 10% from 11.5%.