Electrolux Q3 Earnings Beats Consensus Despite 10% Production Impact from Supply Chain

Mittwoch, 27.10.2021 08:10 von PLX

• (PLX AI) – Electrolux Q3 revenue SEK 30,929 million vs. estimate SEK 29,950 million.
• • Q3 EBIT SEK 1,639 million vs. estimate SEK 1,585 million
• • Q3 net income SEK 1,143 million vs. estimate SEK 1,139 million
• • Q3 EPS SEK 3.98 vs. estimate SEK 3.96
• • Says continued to see solid demand in most markets with normalization above pre-pandemic demand trends
• • Strong price realization and favorable mix, through an attractive product and brand offering, offset lower sales volumes: CEO
• • Supply chain constraints, mainly electronic component availability, impacted production output negatively, as we anticipated
• • We estimate the production impact to be approximately 10% in the quarter: CEO
• • Price once again more than offset external factors, predominantly accelerating raw material inflation and currency
• • Says the tight conditions for electronics and ocean freight also led to significant temporary cost increases, such as express logistics and spot buys, of about SEK 300m that could not be fully offset in the short term
• • Says expect that limited availability of certain product categories will continue throughout the year, with regional variances, as underlying consumer demand normalizes above pre-pandemic levels