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ATCO B Atlas Copco AB News Story

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Atlas Copco shares track worst day in nine years as Q2 profit, orders disappoint

** Shares in Swedish industrial group Atlas Copco ATCOa.ST  slump nearly 10% after it posted Q2 print that lags market expectations as profit, orders declined amid currency headwind

** Its adjusted EBIT fell to 8.41 billion Swedish crowns ($870.30 million) for the quarter against the 8.66 billion seen in LSEG poll

** Atlas Copco's quarterly order intake fell yoy to 40.1 billion crowns, mainly due to a negative currency effect, the company said

** RBC analyst Sebastian Kuenne says the currency effect creates a margin headwind that Atlas Cocpo could find difficult to compensate with pricing or mix

** The stock, on track for its worst day since June 2016, if losses hold, is the weakest performer on pan-European STOXX 600 .STOXX index

 (Reporting by Elviira Luoma)

 ((Elviira.luoma@thomsonreuters.com))

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