Swedish industrial group Atlas Copco AB on Thursday reported a decline in third-quarter profit as its operating margin narrowed, though it maintained its outlook for stable customer demand.
The maker of compressors and industrial tools said operating profit fell 8% to 8.55 billion Swedish kronor from 9.34 billion kronor in the same period last year.
Revenue for the quarter decreased 3% to 41.62 billion kronor, but rose 1% on an organic basis, according to the company.
The operating profit margin slipped to 20.5% from 21.7% a year earlier, while the adjusted margin was 21.3%, down from 21.9%.
Orders received were 40.52 billion kronor, which the company described as organically unchanged compared to the prior year.
“The overall order volumes remained relatively stable compared to last year as well as compared to the previous quarter,” said Vagner Rego, President and CEO of Atlas Copco Group.
Atlas Copco said it expects customer activity to remain at the current level, reiterating the forecast it provided in the second quarter.
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