By Dominic Chopping
STOCKHOLM--Swedish industrial tool maker Atlas Copco AB on Thursday posted in-line third-quarter earnings and proposed a 3.50 Swedish kronor ($0.40) dividend to be paid in the fourth quarter.
The company said it received orders worth SEK24.25 billion in the quarter ended Sept. 30, just above a FactSet analyst forecast of SEK24.18 billion.
Net profit fell to SEK3.62 billion from SEK4.42 billion as revenue dipped 6.8% to SEK24.85 billion.
Analysts polled by FactSet had expected net profit of SEK3.58 billion on revenue of SEK24.05 billion.
Atlas Copco said that although the world's economic development remains uncertain, it expects near-term demand for the group's equipment and services to remain at the current level.
"All business areas saw an increased demand compared to the second quarter although the effects of the ongoing Covid-19 pandemic continued to have an impact on the business climate," said Chief Executive Mats Rahmstrom.
"Looking ahead, we have the financial stability to secure our long-term competitiveness through acquisitions, investing in digital solutions and broadening our offer to customers through innovation."
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