The industrial group $ATCO B (-0,49%) reported third-quarter revenue in line with expectations. Operating profit fell short of expectations.
“Overall demand for the Atlas Copco Group’s products, services, and solutions was very strong, and order intake increased significantly,” says CEO Vagner Rego. “Most equipment segments posted solid growth, and the service business continued to perform well.”
Revenue rose 15.1% to 47,920 million SEK (41,621). By comparison, the FactSet analyst consensus had been 47,591. Organic revenue growth was 11%.
Operating profit totaled SEK 9,950 million (8,546), compared with an expected SEK 10,306 million. The operating margin was 20.8% (20.5).
Adjusted operating profit totaled SEK 10,195 million (8,862), compared with an expected SEK 10,268 million. The adjusted operating margin was 21.3% (21.3).
Order intake totaled SEK 52,338 million (40,517), which was 3.7% above the analyst consensus. Organically, order intake increased by 25%.
Short-term market outlook:
The Atlas Copco Group expects customer activity to remain at current levels.
