Atlas Copco profit beats analyst forecasts but expects demand to weaken (updated)

Pfeiffer Vacuum Technology AG

19/10/2022 11:19

(Adds order intake, details on demand)
       Oct 19 (Reuters) - Industrial group Atlas Copco
 ATCOa.ST , Sweden's most valuable listed company, posted
third-quarter operating profit ahead of analysts' forecasts on
Wednesday but expects demand to weaken in the months ahead.
    The adjusted operating profit for the maker of compressors,
vacuum pumps and industrial tools came in at 8.5 billion Swedish
crowns  ($763.11 million), an increase from 6.11 billion a year
earlier. Analysts polled by Refinitiv had expected 7.58 billion
from the Swedish company. 
    Order intake rose 6% on an organic, or like-for-like, basis 
to 40.56 billion crowns, below analysts' expectations at 37.73
billion crowns.
        Atlas Copco, which competes with firms like Gardner
Denver and Ingersoll-Rand  INGR.NS  in its compressor unit and
Pfeiffer Vacuum  PV.DE  in its vacuum business, said it expected
demand to weaken in the near-term, compared to the "high level
in the third quarter". 
  
($1 = 11.1387 Swedish crowns)
 (Reporting by Marie Mannes, editing by Stine Jacobsen)
 ((Marie.mannes@thomsonreuters.com))