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Investing.com -- Atlas Copco reported flat organic order growth in its latest quarter, missing market expectations of a 1% increase. The company’s shares fell 3% following the announcement.
The industrial equipment maker’s Vacuum Technique division posted order growth of 1%, significantly below the 4% analysts had anticipated.
Despite the order disappointment, Atlas Copco delivered better-than-expected profitability with an adjusted EBIT margin of 21.3%, compared to forecasts of 21.1%. The Vacuum Technique segment achieved a margin of 20.1%, outperforming expectations of 19.5%.
The company reported a 1% increase in sales and a 2% rise in adjusted EBIT for the period. Operating cash flow amounted to SEK7.3 billion, down slightly from SEK7.5 billion in the same quarter last year.
Looking ahead, Atlas Copco provided guidance for the fourth quarter, stating it expects customer activity levels to remain at the current level.
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