Volvo Reports Fourth Straight Loss

Volvo AB said Friday it lost $427 million, or 21 cents a share in the third quarter, less than analysts’ estimates, as labor reductions showed savings faster than anticipated, Bloomberg reported.

The loss compared with profit of $291 million, or 14 cents, a year ago. Sales in the period dropped 31% to $10.2 billion.

The truck division reported an operating loss of $341.9 million, compared with an operating profit of $398.4 million a year ago. Revenue fell 34% to $4.4 billion.

Sweden-based Volvo reports its earnings in Swedish kronor and is the parent company of U.S.-based Mack Trucks and Volvo Trucks North America.

Volvo reported Thursday that it will combine its Mack Trucks and Volvo Trucks North America operations next month into a single entity known as North American Trucks.