SKF Beats Q1 Profit, Flat Q2 Sales

SKF reported Q1 adjusted operating profit of 2.95 bn crowns, above consensus 2.74 bn despite a year‑on‑year decline.
Net sales fell to 21.87 bn crowns from 23.97 bn, with like‑for‑like sales up 2.4% driven by industrial growth.
Over‑production in Bearings Solutions added 100 m crowns and 50 m crowns savings, contributing half of the earnings beat.
SKF expects Q2 like‑for‑like sales to be broadly flat year‑on‑year, with demand roughly matching Q1 levels.