Swedish builder Skanska misses Q4 earnings forecast (updated)

Skanska AB

06/02/2026 06:44

Adds CEO comments on market environment in paragraphs 4-7, dividend in paragraph 10, share move in paragraph 11

Skanska's Q4 operating profit slightly misses expectations

Low consumer confidence in the Nordics translates to muted housing market

US commercial property market recovery not in sight for 2026

Feb 6 (Reuters) - Swedish construction group Skanska SKAb.ST reported fourth-quarter earnings slightly below market expectations on Friday, as a sluggish Nordic housing market continued to weigh on property sales.

Recovery in commercial and residential property development has been slow even as the big central banks, including those in Skanska's key markets Sweden and the U.S., kicked off a period of rate cuts to jump-start economic growth.

The Nordic region's largest builder said its operating profit rose 11% to 2.98 billion Swedish crowns ($332.3 million) in the quarter, slightly missing the 3.02 billion crowns expected by analysts polled by LSEG.

Consumer confidence in the Nordics was still on the low side, resulting in a muted housing market despite an underlying need for new homes, CEO Anders Danielsson told Reuters.

In the U.S., the commercial property market saw very few transactions, as prospective investors await better conditions, Danielsson said, adding that a U.S. recovery would require the long‑term interest rates to go down.

Asked about Sweden during a conference call, he said that both residential construction and commercial property development were on the low side, with few new projects coming to market.

"Some GDP growth … would absolutely help us, but we are in a good position," Danielsson said.

The builder expects 2026 to bring a slow recovery in project development, while the Nordic and Central European housing markets should show gradual improvements.

However, the U.S. commercial property market is set to remain muted for longer, it said.

Skanska proposed an annual dividend of 14 crowns per share, which included an extra dividend of 5.50 crowns. Last year, it had paid no extra dividend on top of the ordinary payout of 8 crowns per share.

The Stockholm-listed shares were down 2.5% by 1000 GMT.

($1 = 9.0289 Swedish crowns)

(Reporting by Agnieszka Gosciak-Rabalska in Gdansk, editing by Milla Nissi-Prussak)

((agnieszka.gosciak@thomsonreuters.com))