Goldman Sachs expects Nvidia ’beat and raise,’ lifts price target to $240
Investing.com -- Electrolux reported that its third-quarter operating profit more than doubled, reaching 890 million crowns ($94.5 million) compared to 349 million crowns in the same period last year.
The Swedish home appliance maker’s strong performance was primarily driven by a 5% organic sales growth, with its North American business showing particularly impressive results with double-digit organic sales growth.
The company’s North American division, which represented approximately one-third of total sales last year, turned around its performance by posting a profit of 25 million crowns, compared to a 249 million crown loss in the same quarter of the previous year.
Electrolux, known for brands such as Frigidaire and AEG, slightly exceeded market expectations, as analysts had forecast an average profit of 875 million crowns according to a poll provided by the company.
The positive quarterly results prompted a sharp increase in Electrolux shares on Thursday.
The company also noted that it had largely managed to control costs related to U.S. tariffs during the quarter.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.