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Electrolux Professional Q3 net sales rise on laundry segment growth

By Reuters News


Overview

  • Sweden-based professional appliances maker's Q3 net sales rose 4.6% yr/yr, driven by organic growth

  • Q3 EBITA margin improved, helped by higher sales, cost savings, and US tariff refund

  • Company launched Generation 7000 laundry product line in October


Outlook

  • Company expects efficiency program savings and order intake to support future performance

  • Electrolux Professional finalizing efficiency program, including production move to Italy

  • Company to focus on core categories and increasing service, upgrades and consumables revenue


Result Drivers

  • EFFICIENCY PROGRAM AND TARIFF REFUND - Co said EBITA margin improvement was supported by savings from efficiency program and SEK 26m US tariff refund

  • SEGMENT GROWTH - Organic sales growth and improved profitability reported in both Food & Beverage and Laundry segments

  • LOGISTICS AND STRATEGIC COSTS - Co said higher logistics costs and costs related to strategic initiatives limited margin improvement


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

SEK 2.95 bln

Q3 EPS

SEK 0.74

Q3 Net Income

SEK 212 mln

Q3 EBIT

SEK 317 mln

Q3 EBITA

SEK 372 mln


Analyst Coverage

  • The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "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 Electrolux Professional AB (publ) is SEK71.00, about 43.4% above its October 27 closing price of SEK49.50

  • The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago


Reuters Recommended Reads

  • Oct 27 - Sweden's Assa Abloy slightly beats Q3 sales estimates on strength in Americas and EMEIA divisions

  • Oct 27 - Sweden's Alfa Laval Q3 sales rise on order intake

  • Oct 27 - Sweden's Storytel Q3 sales rise 16% as subscribers grow


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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