Atlas Copco's adjusted operating profit misses expectations in Q1 (updated)
28/04/2026 10:07
Q1 profit, orders miss expectations Shares down 5% Compressor Technique orders down, driving the miss "Not too many decisions in Q1" - CEO Adds details of divisional performance and CEO quote in paragraphs 5-7 By Jagoda Darlak April 28 (Reuters) - Swedish industrial group Atlas Copco ATCOa.ST reported a first-quarter operating profit below market expectations on Tuesday and said it expected steady customer activity in the near term, sending its shares down 5%. Operating profit excluding unusual or non-recurring items fell to 8.33 billion Swedish crowns ($900.5 million), below analysts expectations, data compiled by LSEG showed. Quarterly revenue dropped 5.1%, dragged by currency exchange rates that had a negative impact of 11% on sales and orders, Atlas Copco said. Order intake was 45.4 billion crowns, down 3% from a year ago and lagging analysts' expectations of 46.37 billion crowns. On an organic basis, however, the intake grew by 5%. Orders in the compressor technique business area, accounting for almost half of the group's orders received in the last 12 months, fell 3% organically, as orders for gas and process compressors were notably down, the group said. CEO Vagner Rego told a conference call that the weaker performance was largely explained by timing and tough comparisons after it booked one of the largest gas and process orders it has ever received in the first quarter of last year. "Now we have a high comparison base. We see that the decision process for some market segments that are relevant for us will be more step-by-step this year, so not too many decisions in Q1," he added. The company said overall demand for its products and services improved in the first quarter compared to 2025. Increased order volumes were primarily driven by demand for vacuum equipment, mainly due to higher demand from the semiconductor industry, but also orders for vacuum equipment to the general industry. The vacuum business, which competes with the likes of Pfeiffer Vacuum PV.DE, is an important indicator for Atlas Copco as it typically offers a forward-looking gauge of demand for the broader group. ($1 = 9.2505 Swedish crowns) (Reporting by Jagoda Darlak in Gdansk, editing by Milla Nissi-Prussak and Matt Scuffham) ((Jagoda.Darlak@thomsonreuters.com; +48 58 769 65 40;))