Sandvik's Q4 adjusted operating profit beats analyst estimates (updated)

Kennametal

20/01/2023 07:11

(Adds numbers from report, detail)
       Jan 20 (Reuters) - Swedish maker of metal-cutting tools
and mining gear Sandvik  SAND.ST  reported on Friday
fourth-quarter earnings above analysts' expectations.
    The company's adjusted operating profit grew to 5.98 billion
Swedish crowns ($578.99 million) from 4.79 billion a year
earlier, beating the mean forecast in a Refinitiv poll of
analysts of 5.60 billion.
    Sandvik proposed a dividend of 5.00 crowns per share for
2022 compared to 4.75 crowns in 2021, broadly matching the mean
forecast of 5.14 crowns in the poll.
    As the first major Nordic industrial firm to report fourth
quarter numbers, Sandvik is considered a good gauge of demand
given its broad customer base and relatively short lead times
from order booking to delivery on its cutting tools.
 (Reporting by Marie Mannes, additional reporting by Marta
Frackowiak, editing by Terje Solsvik)
 ((marie.mannes@thomsonreuters.com))