Electrolux Surges Amid Strong U.S. Growth, Improving Margins
- Forecast U.S. market growth raised to 4 percent to 5 percent
- Margin improvement in all units except Latin America
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Electrolux AB, Europe’s biggest maker of home appliances, surged the most in a year after more than doubling first-quarter profit and increasing its forecast for U.S. growth.
Operating profit increased to 1.27 billion kronor ($157 million) from 516 million kronor in the year-ago period, when North American operations reported a loss, the Swedish company said in a statement Thursday. The average of analyst estimates compiled by Bloomberg was 1.05 billion kronor. The stock climbed as much as 10 percent.