Electrolux’s First-Quarter Profit Falls Short of Expectations

STOCKHOLM: Appliance manufacturer Electrolux announced Tuesday that its first-quarter earnings were lower than anticipated. The company also revised its market outlook for North America, citing that consumer confidence has been affected by developments in US trade policy.

The Swedish corporation reported an operating profit of 452 million crowns ($46.96 million), a notable turnaround from the 720 million crown loss it experienced during the same period last year. However, this figure was below the 610 million crown profit predicted by analysts in a consensus poll conducted by LSEG.

Electrolux was also fined $46 million in France regarding a 2009-2014 antitrust case.