UPDATE 2-Bearings maker SKF's profit falls, reassures on Chinese autos [Reuters]
SKF AB S/ADR (SKFRY)
NASDAQ:AMEX Investor Relations:
skf.com/group/investors/investor-relations
Company Research
Source: Reuters
Bearings maker SKF's profit falls, reassures on Chinese autos - Reuters 3 Min Read STOCKHOLM (Reuters) - Swedish bearings maker SKF ( SKFb.ST ) forecast stable demand for its main industrial business in the third quarter and cited unexpected signs of improvement in the battered Chinese car market, spurring a 4% rise in shares. The world’s biggest maker of industrial bearings reported second quarter profit fell 13% due to restructuring and impairment costs, though excluding them earnings beat forecasts, aided by cost cuts. SKF - which derives around 70% of sales from its industrial business and the rest from autos - has felt the impact of a slump in car markets globally, especially in China, and signs of slowing demand for industrial goods. The Gothenburg-based company, which rivals Germany’s Schaeffler ( SHA_p.DE ), said overall organic sales dipped 2% in the second quarter, its first quarterly decline in almost three years, hit by a 7% fall in its automotive business alone. Still
Show less
Read more
Impact Snapshot
Event Time:
SKFRY
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
SKFRY alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
SKFRY alerts
High impacting SKF AB S/ADR news events
Weekly update
A roundup of the hottest topics
SKFRY
News
- SKF First-quarter report 2024: A more resilient and competitive SKF [Yahoo! Finance]Yahoo! Finance
- Bearings maker SKF Q1 core profit beats, sees sales dip in Q2 [Reuters]Reuters
- SKF Lincoln launches new gear oil dispensing units [Yahoo! Finance]Yahoo! Finance
- Annual General Meeting of AB SKFPR Newswire
- Annual General Meeting of AB SKFPR Newswire
SKFRY
Earnings
- 2/1/24 - Beat
SKFRY
Analyst Actions
- 2/23/24 - UBS Group AG