Sweden's Epiroc Q1 revenue misses on currency headwinds

Epiroc AB

29/04/2026 10:39

Overview

Sweden mining equipment maker's Q1 revenue fell 8% and missed analyst expectations

Q1 EBIT declined and missed analyst expectations

Orders received rose 11%, driven by strong mining demand and large equipment orders

Outlook

Epiroc expects mining demand to remain high in the near term

Company anticipates construction demand to increase somewhat from a low level

Epiroc says it is ramping up production and expects increased output and deliveries in coming quarters

Result Drivers

MINING DEMAND - Strong mining activity, especially in copper and gold, drove organic order growth, per CEO Helena Hedblom

EQUIPMENT AND SERVICE ORDERS - Equipment orders rose 44% organically and service orders increased, with high demand for automation and mid-life upgrades

CURRENCY HEADWINDS - Negative currency effects reduced reported revenue and order growth

Company press release: ID:nWkrc9snR8

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
SEK 14.35 bln
SEK 15.15 bln (12 Analysts)
Q1 EBIT
Miss
SEK 2.85 bln
SEK 3.004 bln (12 Analysts)
Q1 Adjusted EBIT Margin
20.00%
Q1 Basic EPS
SEK 1.74
Q1 EBIT Margin
19.80%
Q1 Orders
SEK 18.34 bln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 10 "strong buy" or "buy", 10 "hold" and 3 "sell" or "strong sell"

The average consensus recommendation for the heavy machinery & vehicles peer group is "buy."

Wall Street's median 12-month price target for Epiroc AB is SEK248.00, about 2.8% above its April 28 closing price of SEK241.20

The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 27 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)