Electrolux AB

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.

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.

Swedish home appliance maker Electrolux <ELUXb.ST> said on Monday it had decided to withdraw its proposed dividend for 2019 and was taking action to protect earnings and cash flow due to the effects from the coronavirus spread.

Swedish home appliance maker Electrolux <ELUXb.ST> said on Sunday it now saw a considerable risk of a "material" financial hit in the first six months of 2020 due to the rapid global spread of the new coronavirus.

Electrolux Professional , the commercial kitchen, beverage and laundry equipment unit of Sweden's Electrolux AB, said on Tuesday it expected the coronavirus outbreak to weigh on its business through the first half of this year.

* SAYS MANY MANUFACTURERS IN CHINA ARE EXPERIENCING DELAYS IN RESUMING OPERATIONS AS RESULT OF CORONAVIRUS, WHICH WILL AFFECT ELECTROLUX AS WELL

Electrolux <ELUXb.ST> warned on Friday the coronavirus outbreak in China would hit its sourcing of products and components from the country, while lingering U.S. production issues would push its North American arm into a first-quarter loss.

Swedish home appliances maker Electrolux reported a smaller-than-expected fall in earnings for a fourth quarter marred by U.S. production issues that it said would linger deep into 2020.

Shares in Electrolux <ELUXb.ST> plunged 12% on Monday after the appliance maker warned of a bigger than expected hit to fourth-quarter earnings at its North American business, and slashed its savings forecast for 2020 from its investment program.

Swedish appliance maker Electrolux AB on Sunday said its North American business will incur costs of about $70 million in fourth quarter as part of costs incurred to move into a new facility in South Carolina.

Swedish appliance maker Electrolux <ELUXb.ST> reported quarterly profit that narrowly topped forecasts and reassured investors it could shrug off the pinch from currency swings, higher costs and tariffs, sending its shares sharply higher.

Swedish home appliance maker Electrolux <ELUXb.ST> said on Thursday it had been able to offset pressures from higher raw materials, trade tariffs and currency with price hikes so far in 2019, and that it also expected to do so for the full year.

Swedish home appliance maker Electrolux on Thursday said that it had been able to offset headwinds from raw materials, trade tariffs and currency with price hikes as it reported quarterly operating earnings in line with market expectations.

Swedish home appliance maker Electrolux scaled back its full-year cost guidance after reporting first-quarter earnings above market expectations as price hikes and improved product mix helped offset tariff and currency headwinds.

Electrolux expects to accelerate annual sales growth at its professional products unit above 7 percent after carving it out next year, its executives told Reuters, citing opportunities to pick up U.S. targets and add fast-food chains as customers.

Electrolux expects to lift sales growth at its professional products business above 7 percent after spinning off the unit next year, its executives told Reuters, citing opportunities to buy U.S. targets and add fast-food customers.

Electrolux shares hit an eight-month high on Friday after the home appliances maker announced plans to spin off its most profitable business to shareholders and beat earnings forecasts.

Home appliance maker Electrolux reported quarterly earnings ahead of market expectations and forecast less headwinds on costs in 2019 as prices hikes help it offset some of the raw material inflation due to tariffs on Chinese goods.

Swedish home appliance maker Electrolux said on Thursday it would spin off its Professional Products business, and that by splitting in two it would create extra shareholder value.