Electrolux Sees Q4 Operating Loss

Electrolux AB (0MDT.L,0GQ1.L,ELUXY.PK), a Swedish home appliance maker, said it expects operating loss for the fourth quarter of 2022 to be about 2.0 billion Swedish kronor compared to operating income of 0.9 billion kronor last year. The year-over-year result decline was primarily a consequence of weaker consumer demand and inventory reductions at both retailers and Electrolux in combination with an elevated cost level. The main contributor to the weaker than expected earnings in the fourth quarter was performance in Business Area North America.

Net sales in the fourth quarter for the Group are estimated to be approximately 36 billion kronor, a decrease of about 8% organically.

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