Electrolux Q3 profit jumps as North America business picks up

Core Insights - Electrolux reported a more than doubling of profit in Q3, driven by recovery in its North America business, which compensated for higher U.S. trade tariff costs [1][2] - The operating profit increased to 890 million crowns ($94.5 million) from 349 million crowns a year earlier, with organic sales growth of 5% primarily from double-digit growth in North America [1][2] Financial Performance - Operating profit rose to 890 million crowns ($94.5 million) compared to 349 million crowns in the same quarter last year [1] - Analysts had forecasted an operating profit of 875 million crowns, indicating that the actual performance exceeded expectations [2] Market Dynamics - The North America business gained market share despite previous struggles with high costs and competition [2] - Demand in the U.S. remained largely unchanged, with inflation concerns related to tariffs impacting consumer confidence [3] - Electrolux's main brands managed to gain market share despite ongoing price competition across all regions [3] Management Changes - Electrolux appointed Patrick Minogue as the head of its North America division [3]