May 7, 2020 / 6:20 AM / a month ago

Electrolux warns of significant Q2 loss as coronavirus crisis hits

STOCKHOLM, May 7 (Reuters) - Swedish home appliance maker Electrolux on Thursday warned it expected to make a significant second-quarter loss due to headwinds from the COVID-19 pandemic, after it beat earnings forecasts in the first three months of the year.

The rival of U.S. Whirlpool said first-quarter operating earnings were 122 million Swedish crowns ($12.42 million), up from a 53 million loss in the year-ago quarter, which was marred by large one-off costs, and above the 19 million profit seen in a Refinitiv analyst poll. ($1 = 9.8220 Swedish crowns) (Reporting by Johannes Hellstrom; editing by Simon Johnson)

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