July 19, 2018 / 6:10 AM / a month ago

Sweden's SKF Q2 profit beats forecast, sees higher demand in Q3

STOCKHOLM, July 19 (Reuters) - Sweden’s SKF, the world’s biggest maker of industrial bearings, reported a bigger than expected rise in quarterly operating earnings on Thursday and forecast higher year-on-year demand for the third quarter.

The Gothenburg-based company said second-quarter operating profit rose to 2.93 billion Swedish crowns ($330.67 million) from a year-ago 2.32 billion, beating a mean forecast of 2.76 billion in a poll of analysts.

The rival of Germany’s Schaeffler reported organic sales growth of 9.0 percent in the quarter, higher than the 7.3 percent seen by analysts. ($1 = 8.8607 Swedish crowns) (Reporting by Johannes Hellstrom; editing by Niklas Pollard)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below