Epiroc's orders surge in Q1, expects mining demand to remain high

Epiroc AB

29/04/2026 12:06

April 29 (Reuters) - Swedish industrial company Epiroc EPIRa.ST reported lower-than-expected first-quarter earnings but surprised positively on orders, sending its shares 8% higher on Wednesday.

With elevated customer activity supported by historically strong mineral prices, the company expects demand in its mining division to remain high in the near term, it said.

Operating profit fell to 2.85 billion Swedish crowns ($307.2 million) in Q1, against analysts' forecast of 3 billion crowns in an LSEG poll

Order intake grew 23% organically from a year ago to 18.34 billion crowns, beating market estimates

The order uptick, driven by strong demand from mining customers, was seen in all business regions

Compared to the last quarter of 2025, orders increased 17% organically

Large orders amounted to 1.28 billion crowns, versus 280 million crowns a year ago

Jefferies analysts said it was encouraging to see equipment orders were up 44%, catching up with local rival Sandvik SAND.ST

Epiroc's shares are on track for their best trading day in six years if Wednesday's gains hold

($1 = 9.2772 Swedish crowns)

(Reporting by Izabela Niemiec in Gdansk, editing by Milla Nissi-Prussak)

((izabela.niemiec@thomsonreuters.com))