|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's Range||13.74 - 13.74|
|52 Week Range||10.49 - 27.58|
|Beta (5Y Monthly)||1.21|
|PE Ratio (TTM)||33.51|
|Forward Dividend & Yield||0.91 (6.63%)|
|Ex-Dividend Date||Sept 29, 2022|
|1y Target Est||N/A|
Europe's biggest home appliances maker Electrolux said on Friday it expects further falls in demand due to inflation and high interest rates as soaring costs, especially in North America, led to a third quarter loss. Electrolux in September warned profit would drop as high inflation and low consumer confidence squeezed demand and large investments in North America had yet to pay off. Electrolux has invested heavily in its North American plants in recent years, but the pandemic and component shortages have delayed the ramp-up of local production.
Electrolux, Europe's biggest appliances maker, has agreed to sell its idle factory in Memphis in the United States for $82.5 million, it said in a statement. The Swedish group said late on Wednesday it aimed to finalise the deal with an undisclosed buyer, and book a gain of around 740 million crowns ($65.3 million) from it, in the fourth quarter. The rival to U.S. group Whirlpool halted production in Memphis in June, transferring production to a new factory in Springfield.
COPENHAGEN (Reuters) -Sweden's Electrolux on Monday announced plans to cut costs and warned its profit would drop as high inflation and low consumer confidence squeezed demand for its home appliances, while large investments in North America had yet to pay off. Demand for appliances in Europe and the United States decreased at a significantly accelerated pace in the third quarter, with high retailer inventories and supply chain imbalances increasing costs and inefficiencies, Electrolux said. In the April-June quarter, Electrolux booked a weaker-than-expected operating profit of 560 million Swedish crowns ($53.4 million).