Finance
Bearings Maker SKF's Q1 Profit Falls Less Than Expected, Says Iran War Increases Uncertainty
Published by Global Banking & Finance Review®
Posted on April 21, 2026
1 min readLast updated: April 21, 2026
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SKF’s Q1 adjusted operating profit slipped to SEK 2.95 bn, beating forecasts of SEK 2.74 bn amid 2.4% like‑for‑like sales growth. The company sees Q2 volume trends holding steady, though heightened Middle East conflict adds to global manufacturing uncertainty.
SKF Q1 Profit Declines Less Than Forecasted, Cites Iran War Uncertainty
SKF Reports First-Quarter Financial Results Amid Global Uncertainty
First-Quarter Profit Performance
STOCKHOLM, April 21 (Reuters) - Swedish industrial bearings maker SKF reported a smaller-than-expected fall in first-quarter adjusted operating profit on Tuesday and said it expected like-for-like sales to be relatively unchanged year-on-year in the second quarter.
SKF's Role in the Global Manufacturing Sector
SKF is a bellwether of the global manufacturing sector as its customers span a wide range of products from industrial tools and wind turbines to cars.
Adjusted Operating Profit and Sales Growth
Its adjusted operating profit fell to 2.95 billion crowns ($323 million) from a year-earlier 3.23 billion against a mean forecast of 2.74 billion in a poll of analysts provided by SKF, on like-for-like sales growth of 2.4%.
Outlook for the Second Quarter
SKF said it expected demand to be roughly unchanged overall in the second quarter from the first quarter.
Impact of Geopolitical Turmoil
"However, geopolitical turmoil, including the conflict in the Middle East, amplifies overall uncertainty," CEO Rickard Gustafson said in a statement.
Currency Exchange Rate
($1 = 9.1273 Swedish crowns)
Reporting Credits
(Reporting by Greta Rosen Fondahn, edited by Anna Ringstrom)
Key Takeaways
- •SKF delivered a smaller-than-expected drop in Q1 adjusted operating profit: SEK 2.95 bn vs ~SEK 3.23 bn year‑ago and consensus of SEK 2.74 bn (marketscreener.com)
- •Like‑for‑like sales advanced 2.4%, and the company expects Q2 volumes to be ‘roughly unchanged’ year‑on‑year (marketscreener.com)
- •CEO Rickard Gustafson cited increased geopolitical uncertainty—particularly due to the Middle East conflict—as a key risk factor (investing.com)
References
Frequently Asked Questions about Bearings maker SKF's Q1 profit falls less than expected, says Iran war increases uncertainty
1How did SKF's Q1 profit compare to analyst expectations?
SKF's Q1 adjusted operating profit fell less than expected, coming in at 2.95 billion crowns compared to the 2.74 billion crowns average forecast.
2What is SKF's sales outlook for the second quarter?
SKF expects like-for-like sales to be relatively unchanged year-on-year in the second quarter.
3What industries does SKF supply?
SKF supplies a wide range of industries, including producers of industrial tools, wind turbines, and cars.
4What currency exchange rate was mentioned in the report?
The report mentioned the exchange rate of $1 to 9.1273 Swedish crowns.
