By Dominic Chopping

STOCKHOLM--Volvo AB on Tuesday posted forecast-beating second-quarter earnings amid surging demand for its trucks but cautioned on disruption amid the global shortage of semiconductors and other components.

The Swedish truck maker swung to a second-quarter net profit of 8.9 billion Swedish kronor ($1.02 billion) from a loss of SEK282 million last year, beating a FactSet consensus forecast of SEK8.33 billion.

Sales rose to SEK90.56 billion, beating a forecast of SEK88.89 billion.

Truck deliveries rose 63% in the quarter to 45,670 trucks, while order intake more than doubled to 57,961 trucks, it said.

Volvo said freight markets continue to be strong and the company is working to keep up with customer demand, despite supply-chain disruptions that saw it stop truck production for close to a month during the quarter.

"The global supply chain for semiconductors as well as for other components remains unstable and with low visibility," Chief Executive Martin Lundstedt said.

"There will be further disruptions and stoppages in both truck production and other parts of the group in the second half of the year."

Volvo backed its 2021 truck market forecasts in all regions except China, where it now sees the heavy- and medium-duty truck market at 1.65 million from 1.56 million previously.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

07-20-21 0251ET