SKF (SKF) Q3 2026 earnings summary

Executive summary

• Continuing-operations sales rose 5.5% YoY to MSEK 17,467, with 4.3% organic growth; adjusted operating margin increased to 16.3% from 15.4%.

• Selective OEM demand, Specialized Industrial Solutions growth, commercial execution and rightsizing savings supported results.

• Shareholders approved distribution of SKF Vertevo shares; the first Nasdaq Stockholm trading day is expected on 1 December 2026.

Financial highlights

• Adjusted operating profit was MSEK 2,845 versus 2,553; reported operating profit was MSEK 2,778 versus 2,166, with operating margin up 2.8 pp to 15.9%.

• Adjusted gross margin was 34.9%, down 0.1 pp; reported gross margin was 34.3% versus 32.8%.

• Continuing-operations net profit was MSEK 1,777 versus 1,287; adjusted EPS was SEK 3.88 versus SEK 3.52.

• Including discontinued operations, net profit was MSEK 1,428 versus 1,127; adjusted EPS was SEK 4.2 versus SEK 4.0.

• Continuing-operations net sales were MSEK 17,467 versus 16,562; organic growth was 4.3%, currency added 1.7% and structure reduced growth by 0.5%.

Outlook and guidance

• Q4 continuing-operations organic sales are expected to strengthen somewhat YoY, with market conditions similar to Q3; volatility remains high.

• Q4 operating-profit currency impact is expected to be positive by ~MSEK 150 YoY, based on exchange rates at 30 September 2026; cost inflation is expected to remain broadly unchanged from Q3.

• FY 2026 tax guidance is ~27%, excluding divestments and separation effects; additions to property, plant and equipment are guided at ~BSEK 2.5, ~BSEK 0.5 below prior guidance.

• Rightsizing is expected to reach a ~BSEK 2 annual savings run rate by mid-2027, six months ahead of the prior target.

• FY 2026 IAC guidance for Automotive separation and footprint optimization is SEK -2.5B to -3B.