UPDATE 1-Electrolux beats Q4 profit forecasts, sees demand rising [Reuters]
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Source: Reuters
UPDATE 1-Electrolux beats Q4 profit forecasts, sees demand rising | Reuters Reuters Staff 2 Min Read (Adds CEO comment, background, detail, shares) STOCKHOLM, Jan 31 (Reuters) - Electrolux, Europe’s largest home appliance maker, beat fourth-quarter operating profit expectations on Wednesday and reiterated its forecast for higher demand in Europe and North America this year. The maker of Electrolux, Frigidaire, AEG and Anova appliances reported operating earnings of 1.97 billion crowns ($251 million), up from 1.62 billion and above the 1.87 billion expected by analysts in a Reuters poll. It saw strong results in Europe, the Middle East and Africa as well as in Latin America. Its North America business fell short of forecasts, with Electrolux citing price pressure, lower volumes and raw material costs. The rival of U.S. maker Whirlpool Corp said it expected a bigger negative impact from rising raw material costs this year, mainly as a result of higher steel prices. It forecast a 1.2 bil
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