SKF drops as upbeat Q2 results fail to spark enthusiasm

SKF AB

17/07/2026 09:29

   ** Shares in SKF SKFb.ST drop 3.9% after the Swedish bearing maker reported better-than-expected Q2 earnings and forecast somewhat stronger organic sales growth for the current quarter, as results failed to clear elevated investor expectations
** SKF posted Q2 adjusted operating profit of 3.22 billion Swedish crowns ($333 million), up from 3.09 billion crowns a year earlier and above the 3.11 billion crowns expected by analysts in an LSEG poll
** J.P.Morgan said the share price decline was not surprising given elevated investor expectations following recent positive results elsewhere in the sector and largely unchanged consensus forecasts for the third quarter
** Like-for-like sales rose 1.4%, slightly ahead of analysts' forecasts, while the company said demand improved in some industries during the quarter and that organic sales should strengthen somewhat year on year in Q3
** JPM also noted that SKF did not quantify the benefit from IEEPA tariff refunds, while management said related payments would result in a cash outflow in Q3
     ** The broker added that the positive impact of cost savings relative to dis-synergies is expected to moderate in H2
** Shares of SKF are underperforming the STOXX index, which falls 0.3% 
** The stock is on track for its worst day since April 22, when it closed 3.9% lower




 (Reporting by Canan Sevgili)
 ((canan.sevgili@thomsonreuters.com))