Sweden's Thule Q1 sales slightly beat estimates, margin rises

Thule AB

29/04/2026 06:57

Overview

Sweden sports and outdoor gear maker's Q1 sales slightly beat analyst expectations, down 3% yr/yr

Adjusted EPS for Q1 rose to SEK 2.71 from SEK 2.46

Profitability improved as operating margin rose to 16.5% from 15.1%

Outlook

Thule says market remains impacted by cautious consumers and retailers

Company prioritizes growth in Champion categories through new product launches in 2026

Thule continues efficiency improvements, including manufacturing optimization and warehouse automation

Result Drivers

CURRENCY IMPACT - Net sales declined 3.4% due to negative currency effects, despite 3.9% organic sales growth

ACTIVE WITH KIDS & DOGS - Organic sales in this product area rose 10.9%, driven by investments in dog transportation and child car seats

EFFICIENCY IMPROVEMENTS - Lower product development and administrative costs contributed to higher profitability

Company press release: ID:nMFN2cQP7Z

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Slight Beat*
SEK 2.57 bln
SEK 2.56 bln (5 Analysts)
Q1 Adjusted EPS
SEK 2.71
Q1 Net Income
SEK 293 mln
Q1 Adjusted Free Cash Flow
SEK 25 mln
Q1 EBIT
SEK 424 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy"

Wall Street's median 12-month price target for Thule Group AB is SEK290.00, about 23.9% above its April 28 closing price of SEK234.00

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 19 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)