Sweden's SKF reports Q4 core profit above forecast (updated)
31/01/2025 06:09
(Adds detail, background in paragraphs 2-3)
STOCKHOLM, Jan 31 (Reuters) - Sweden's SKF SKFb.ST ,
the world's biggest maker of industrial bearings, reported
adjusted fourth-quarter earnings above market expectations on
Friday but said it expected like-for-like sales to weaken
somewhat year-on-year in this year's first quarter.
SKF, whose bearings are sold into products ranging from
power tools to wind turbines, said it expected market volatility
to persist amid geopolitical uncertainty, adding it would carry
on with cost cutting measures.
The Gothenburg-based engineering group reported adjusted
quarterly operating earnings of 2.74 billion Swedish crowns
($248 million) compared to 2.93 billion a year ago and a mean
forecast of 2.62 billion, according to a LSEG compilation of
analyst estimates.
($1 = 11.0489 Swedish crowns)
(Reporting by Niklas Pollard, editing by Stine Jacobsen)
((Niklas.Pollard@thomsonreuters.com;))