SKF and Mips fall short of Q3 sales and profit forecasts

what happened

Swedish bearings maker SKF reported third-quarter net sales of SEK 17.47 billion, below the SEK 21.47 billion consensus from 7 analysts. Operating profit (EBIT) came in at SEK 2.78 billion against an expected SEK 2.84 billion from 9 analysts. Adjusted earnings per share rose year on year to SEK 3.88. The company expects organic sales to strengthen somewhat in the fourth quarter, but it warned that market volatility remains high. It cut its 2026 capex guidance to SEK 2.5 billion, which is SEK 0.5 billion lower than before.

Mips, a Swedish maker of helmet safety technology, also came in below forecasts. Its sales rose 59% but reached SEK 215 million against a consensus of SEK 218.45 million. EBIT was SEK 60 million versus an expected SEK 81.88 million, reflecting a SEK 37 million legal settlement. Earnings per share increased to SEK 1.48 from SEK 1.29.

why it matters

Both reports suggest demand in industrial and defence-related markets remains uneven. For SKF, demand from data centers and defence customers is the key signal, while for Mips, one-off legal costs weighed heavily on profit. Investors should note that such misses typically move individual Swedish stocks more than the broader index.

market impact

Industrial stocks in Sweden: the SKF and Mips misses weigh on their shares and point to uneven demand

tags

instruments