Electrolux reports Q3 core profit beat, says North America weakness persists (updated)
UPDATE 1-Electrolux Q3 core profit tops forecasts on cost savings Adds CEO comment in paragraph 2, results detail in 3-4
GDANSK, Oct 23 (Reuters) - Swedish home appliance maker Electrolux ELUXb.ST posted on Friday a better-than-expected core profit for the third quarter of 2026, citing positive impact from savings, but warned of persisting high raw material and logistics costs.
"Competitive pressure remained high, alongside significant cost headwinds from external factors, including raw material, logistic costs and U.S. tariffs," President and Chief Executive Yannick Fierling said in a statement.
Quarterly adjusted operating income came in at 912 million Swedish crowns ($92 million), against 867 million expected by analysts in a company-compiled poll.
Cautious consumer behaviour and rising costs due to the Middle East conflict, as well as US tariffs, have weighed on Electrolux, forcing it to seek cost savings, including job reductions.
($1 = 9.9195 Swedish crowns)
(Reporting by Boleslaw Lasocki in Gdansk, editing by Anna Pruchnicka)