|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)||34.35|
|Forward Dividend & Yield||0.91 (6.63%)|
|Ex-Dividend Date||Sep 29, 2022|
|1y Target Est||N/A|
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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.
STOCKHOLM--Electrolux AB is launching a cost-reduction program on the back of weaker-than-expected market demand and weak earnings in the third quarter, it said Monday. The Swedish home-appliance manufacturer said demand for its core appliances in Europe and the U.S. so far in the third quarter has fallen at a significantly faster pace than in the second quarter, driven by the impact of high inflation on consumer purchases and low consumer confidence and high retailer inventory levels. "In combination with supply chain imbalances...the third quarter earnings for the group are expected to decline significantly compared to the second quarter 2022," it said.