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Sweden's SKF misses Q3 sales, operating profit estimates

By Reuters News


Overview

  • Swedish bearings maker's Q3 net sales grew yr/yr but missed analyst expectations

  • Operating profit missed analyst expectations

  • Adjusted EPS for Q3 rose yr/yr


Outlook

  • SKF expects organic sales for continuing operations to strengthen somewhat in Q4 2026 year-over-year

  • Company says market volatility remains high, amplifying overall uncertainty for Q4 2026

  • Company lowers 2026 capex guidance to SEK 2.5 bln, down SEK 0.5 bln from previous forecast


Result Drivers

  • SELECTED OEM DEMAND - Co said organic sales growth was driven by higher demand in selected OEM markets, including data centers, infrastructure, security and defence

  • SIS PERFORMANCE - Specialized Industrial Solutions segment saw strong growth, especially in Aerospace and Magnetic Solutions

  • COST SAVINGS - Rightsizing program savings more than offset negative separation-related synergies, per co


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

Miss

SEK 17.47 bln

SEK 21.47 bln (7 Analysts)

Q3 Adjusted EPS

SEK 3.88

Q3 EBIT

Miss

SEK 2.78 bln

SEK 2.84 bln (9 Analysts)

Q3 Adjusted EBIT

SEK 2.85 bln

Q3 Adjusted EBIT Margin

16.30%

Q3 Basic EPS

SEK 3.74


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy", 8 "hold" and 4 "sell" or "strong sell"

  • The average consensus recommendation for the industrial machinery & equipment peer group is "buy."

  • Wall Street's median 12-month price target for SKF AB is SEK275.00, about 0.7% above its October 20 closing price of SEK273.00

  • The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 14 three months ago


Reuters Recommended Reads

  • Oct 21 - Sweden's Husqvarna slightly misses Q3 sales estimates amid weak demand

  • Oct 20 - Switzerland's ABB Q3 revenue rises 14%, to form joint venture with Mitsubishi Electric

  • Oct 21 - Sweden's Handelsbanken Q3 operating profit rises 10%


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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