Electrolux Professional poised for worst day ever after Q3 miss

Electrolux Professional AB (publ)

27/10/2023 08:19

** Shares in Electrolux Professional  EPROb.ST  slump 19%
after the Swedish provider of food service, beverage and laundry
solutions posted Q3 results below market expectations
    ** Its Q3 EBITA came in at SEK 290 million ($25.96 million),
below the estimate of 331 million seen in a company-provided
consensus 
    ** "Growth was clearly worse than expected, driven by F&B
and North America again, while Europe was more stable," says
Kepler Cheuvreux via Swedbank Aktiellt equity research service
    ** The company's net sales, of SEK 2.75 billion, also missed
the estimated 2.93 billion
    ** If losses hold, shares are on track for their worst day
ever


($1 = 11.1716 Swedish crowns)

 (Reporting by Greta Rosen Fondahn)
 ((Greta.RosenFondahn@thomsonreuters.com))