AB SKF (publ) (SKF-B.ST)
- Reuters
Bearings maker SKF beats cost crunch as inflation woes ease
Sweden's SKF said on Thursday that "exceptional" cost inflation had peaked and been fully offset as the world's biggest maker of industrial bearings reported higher underlying fourth-quarter earnings, lifting its shares. For the first time in well over a year, SKF's pricing fully compensated for the cost surge coursing through the economy and CEO Rickard Gustafson said inflationary pressures, while still a challenge, had finally begun to moderate. Still, markets are expected to remain volatile and the company said it expected mid-single-digit like-for-like sales growth in the first quarter and for the full year, representing a slowdown from a rise of 9.7% for the fourth quarter.
- Zacks
New Strong Sell Stocks for December 8th
SKFRY, BSBR and GNTX have been added to the Zacks Rank #5 (Strong Sell) List on December 8, 2022.
- Reuters
Sweden's SKF reviewing Aerospace business ownership
(Reuters) -Swedish bearings maker SKF said on Thursday it was looking at the ownership of its aerospace business, amid ongoing consolidation in the industry, in a strategic review. In a statement ahead of its capital markets day, SKF confirmed reports of the review of the aerospace business, which brokerage Berenberg said accounts for around 5% of group sales. Chief Executive Rickard Gustafson said that SKF was unable to commit to a time frame for the review, but said it could reveal areas of "significant shareholder value".
