Atlas Copco – one of the heavyweights on the Stockholm Stock Exchange – falls on the stock market after the industrial conglomerate reported a report characterized by unexpectedly low profit and weaker order intake than expected by the market.
The share price decline is around 5 percent minutes after the figures were published, which essentially erases the increase for the entire stock market ahead of the report.
Atlas Copco reports a profit before tax of SEK 9.3 billion in the second quarter of the year. This can be compared to SEK 9.0 billion in profit during the corresponding quarter last year.
The order intake increased marginally to SEK 43.6 billion, while revenues increased 3 percent to SEK 44.8 billion.
The operating result – also the adjusted one – was worse than expected, according to Bloomberg. The average forecast for order intake among analysts was also higher than the outcome according to the report.
