SKF AB Class A (SKFA) Q3 2026 Earnings Report
DE:SKFA Q3 2026 EPS Results
- Actual EPS
- EUR 0.35
- Consensus EPS
- EUR 0.32
- Beat/Miss
- Beat by +EUR 0.04
- One Year Ago EPS
- EUR 0.21
DE:SKFA Q3 2026 Revenue Results
- Actual Revenue
- EUR 1.58B
- Expected Revenue
- EUR 2.12B
- Beat/Miss
- Missed by -EUR 537.54M
- YoY Revenue Growth
- -22.31%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/21/2026
- Time
- Before Open
- Conference Call
- Wednesday, October 21, 2026
SKF AB Class A's next earnings date is estimated for February 4, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call conveyed a positive overall performance for SKF's continuing industrial operations, with 4.3% organic growth, a 16.3% adjusted operating margin, stronger cash flow, robust growth in Specialized Industrial Solutions and several regions, and rightsizing savings ahead of schedule. The company also reported progress on the Automotive separation and continued investment in Magnetics. Offsetting concerns included volatile market conditions, weak Automotive demand, European and China-related softness, higher input costs, working-capital deterioration, separation-related charges, and seasonally lower expected Q4 margins for Specialized Industrial Solutions.
For continuing operations, SKF expects sales to strengthen somewhat in quarter four year-over-year, with roughly the same activity levels, a somewhat improved growth in the fourth quarter, and continued uncertainty from market volatility; quarter-four currency impact is estimated at SEK +150 million, based on the exchange rate at the end of September. Full-year guidance is a tax rate of 27%, additions to property, plant, and equipment of SEK 2.5 billion, and items affecting comparability for the full group, including Automotive, at SEK -2.5 billion-SEK 3 billion. The rightsizing program is expected to reach a SEK 2 billion annual run rate by mid-2027, about half year prior to the original plan, while Automotive separation costs increase by approximately SEK 0.5 billion, from SEK 2.5 billion to some SEK 3 billion; working-capital targets are around 29% at midterm and 27% long-term.
- Strong Continuing-Operations Organic GrowthSKF's continuing operations delivered 4.3% organic growth in Q3 2026, driven by high demand from selective OEMs including defense, drives, and infrastructure, as well as strong growth in Specialized Industrial Solutions.
- Adjusted Operating Margin ExpansionThe adjusted operating margin for continuing operations improved by 0.9 percentage points year-over-year to 16.3%, supported by strong commercial execution, continued margin expansion in Specialized Industrial Solutions, and progress in the rightsizing program.
- Rightsizing Savings Ahead of ScheduleSKF expects to reach its SEK 2 billion annual run-rate savings target by the first half of 2027, approximately six months earlier than the previously communicated second half of 2027.
- Improved Net Sales and EarningsContinuing-operations net sales increased 5.5% year-over-year, supported by 4.3% organic growth and a positive currency impact of 1.7%, partly offset by -0.5% from structure. Continuing-operations net profit improved by SEK 490 million to SEK 1.8 billion, while earnings per share increased to SEK 3.9 from SEK 3.5.
- Higher Operating Cash FlowOperating cash flow from continuing operations increased to SEK 2.1 billion from SEK 1.8 billion last year, as higher operating profit more than offset the buildup of components inventory to support growth, particularly in Specialized Industrial Solutions.
- Strong Regional Growth in AmericasThe Americas delivered organic growth of almost 10%, supported by improved demand in data centers, defense, off-highway, distribution, and services, as well as some agriculture pre-buys and project-related initiatives.
- Strong Growth in India and Southeast AsiaIndia and Southeast Asia achieved almost 12% organic growth, with growth across most industries and particularly strong performance in distribution and heavy industries. India and Vietnam showed especially strong developments.
- Specialized Industrial Solutions Growth and Margin ImprovementAll four Specialized Industrial Solutions business units grew in the quarter, with particularly strong growth in Magnetics and Aerospace. The segment's adjusted operating margin improved by 2.4 percentage points to 14%, supported by solid price mix, portfolio optimization, and stronger growth in higher-performing business units.
- Bearing Solutions PerformanceBearing Solutions, representing 74% of sales and 85% of adjusted operating profit, achieved almost 3% organic growth. Its adjusted operating margin improved to 18.8%, driven by strong price mix and positive effects from rightsizing initiatives.
- Magnetics Growth PlatformMagnetic Solutions is a roughly SEK 1.5 billion business that has delivered solid double-digit growth over the last few years, driven by data centers, semiconductors, and energy. Its offering can enable customers to capture energy-efficiency gains of up to 30%, while also supporting increased uptime, reduced maintenance, cleanliness, and AI scaling.
- Continued Investment in Magnetics Capacity and InnovationSKF is scaling manufacturing capacity and automation in Morocco and China, continuing to invest in R&D for data centers, HVAC, semiconductors, and energy, exploring additional Asian markets, and developing sensor- and AI-enabled customer solutions.
- Humanoid-Space Venture ProgressingThe venture with Leaderdrive in the humanoid space is progressing according to expectations and plan, with SKF still targeting operational status by the end of 2026.
- Positive Price Mix and Commercial ExecutionPrice mix and volume were positive contributors to the continuing-operations margin bridge. SKF said pricing actions and commercial activities had helped to a large extent mitigate and offset cost inflation, and the company plans to continue taking selective price increases where necessary.
- Improved Financial Leverage and ReturnsFor the SKF Group including Automotive, net leverage improved to 0.8x from 0.9x in both Q2 and the prior year. Adjusted return on capital employed improved to 14.7% from 14.5% in the previous quarter and 14% last year.
- Automotive Separation MilestonesShareholders approved the distribution of the Automotive business at the October 1 extraordinary general meeting. The Automotive business is now reported as discontinued operations, the prospectus is expected in November, Vertevo's Capital Markets Day is scheduled for November 17, and the first day of trading on Nasdaq Stockholm is targeted for December 1.
- Expected Sales Strengthening in Q4SKF expects continuing-operations sales to strengthen somewhat year-over-year in Q4, with its best estimate being somewhat improved growth, while describing the market environment as similar to Q3.
- Tariff Cost MitigationSKF said it continues to largely compensate tariff costs through price adjustments and expects to continue doing so in Q4.
- Reduced Need for Future Footprint OptimizationThe transfer of additional production lines to Automotive is expected to provide Vertevo with a faster path toward self-sufficiency and reduce SKF's need for future footprint optimization.
DE:SKFA Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 04, 2027 | 2026 (Q4) | 0.37- | 0.32 | ― | ― |
| Oct 21, 2026 | 2026 (Q3) | 0.320.35 | 0.21 | 68.70% (+0.14) | |
| Jul 17, 2026 | 2026 (Q2) | 0.330.45 | 0.1 | 340.71% (+0.35) | |
| Apr 21, 2026 | 2026 (Q1) | 0.300.38 | 0.43 | -9.77% (-0.04) | |
| Jan 30, 2026 | 2025 (Q4) | 0.240.32 | 0.38 | -16.67% (-0.06) | |
| Oct 29, 2025 | 2025 (Q3) | 0.280.21 | 0.37 | -43.21% (-0.16) | |
| Jul 18, 2025 | 2025 (Q2) | 0.390.10 | 0.47 | -78.23% (-0.37) | |
| Apr 25, 2025 | 2025 (Q1) | 0.360.43 | 0.44 | -2.48% (-0.01) | |
| Jan 31, 2025 | 2024 (Q4) | 0.290.38 | 0.32 | 17.65% (+0.06) | |
| Oct 30, 2024 | 2024 (Q3) | 0.320.37 | 0.41 | -9.80% (-0.04) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
