1104 GMT - Deutsche Bank expects SKF to report a soft fourth quarter as trading conditions remain largely unchanged from the third quarter, with solid execution on price mix but declining volumes. The bank expects fourth quarter revenue of 23.2 billion Swedish kronor, down 5% organically year-on-year, and 2.8 billion kronor in adjusted EBIT with an 11.1% margin. "Year/year comparables are likely to be a bit difficult as fourth quarter 2023 featured a strong price mix." Management's guidance for a fourth quarter organic revenue decline of mid single digits is in line with Deutsche Bank and consensus. Deutsche Bank rates SKF at hold and lifts its target price to 201 Swedish kronor from 198 kronor. Shares trade 2.4% lower at 207 kronor. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
January 13, 2025 06:04 ET (11:04 GMT)
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