Electrolux rises on Q3 profit beat

Electrolux AB

Today 08:10

** Shares in Swedish home appliance maker Electrolux ELUXb.ST gain around 10% as its third-quarter comparable operating profit came in 5% above consensus
** JPMorgan highlights the beat resulted in a 2.7% margin against the 2.6% seen in consensus driven by cost efficiency of SEK 1.4 billion ($141.16 million) amid weak trading conditions
** It adds that another positive takeaway is the cash flow which improved to SEK 3.6 billion which helped to reduce leverage
** Citi notes the long-term equity story depends on how the company crystallizes benefits from its new US joint ventures
** Up to the previous session's close, shares were down 26%​ year-to-date; if gains hold, stock will see its best day since July




($1 = 9.9180 Swedish crowns)

 (Reporting by Marta Serafinko in Gdansk)
 ((marta.serafinko@thomsonreuters.com;))