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Electrolux third-quarter profit narrowly tops forecast

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Electrolux third-quarter profit narrowly tops forecast
Interiors of Electrolux R&D facility are pictured at their plant in Pordenone, Italy, March 27, 2019. REUTERS/Giulio Piovaccari   -   Copyright  Giulio Piovaccari(Reuters)
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STOCKHOLM (Reuters) – Swedish home appliances maker Electrolux <ELUXb.ST> reported a slightly smaller-than-expected fall in third-quarter profit on Friday and said it expected a somewhat stronger headwind from unfavourable currency swings for the full year.

Operating earnings at the maker of appliances under brands such as Electrolux, Frigidaire and AEG fell to 1.19 billion crowns ($123.18 million) from a year-ago 1.76 billion, just topping a Refinitiv mean analysts’ forecast of 1.12 billion crowns.

Earnings in the quarter included non-recurring items totalling a net negative 412 million crowns, an impact previously flagged by the company that was also largely reflected in analysts’ estimates.

($1 = 9.6605 Swedish crowns)

(Reporting by Niklas Pollard; editing by Johannes Hellstrom)

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