SKF’s Q3 net income drops 22.7% y/y to USD128 million
Swedish supplier expects demand for its products to remain high in fourth quarter
SKF’s net income declined 22.7% year-over-year (y/y) to SEK1 billion (USD128.2 million as on 30 September 2017) in the third quarter ended 30 September 2017, the Sweden-based bearings supplier said in a press release. The company reported decline in net income despite recording 4.2% y/y growth in net sales to SEK18.6 billion. SKF also witnessed decline in operating income in the third quarter, of 10.3% y/y to SEK2 billion.
Thank you for visiting S&P Global AutoTechInsight.
*A subscription to News & Analysis includes four S&P Global-selected sector-specific analytical pieces per month. Access to all analytic pieces across all domains comes with a subscription to All Domains. Please click here to subscribe.
To get access to the AutoTechInsight full suite of services, please contact a sales representative by clicking here.
Already a subscriber? Please log in here
