Atlas Copco Q2 profit tops forecast, sees improving near-term demand

Credit: REUTERS/MICHAEL DALDER

Swedish compressor and vacuum pump maker Atlas Copco reported quarterly operating earnings ahead of market forecasts on Thursday and said it expected demand in the current quarter to improve somewhat compared to second quarter levels.

STOCKHOLM, July 16 (Reuters) - Swedish compressor and vacuum pump maker Atlas Copco ATCOa.ST reported quarterly operating earnings ahead of market forecasts on Thursday and said it expected demand in the current quarter to improve somewhat compared to second quarter levels.

Second-quarter operating earnings at Sweden's most valuable listed company fell to 3.89 billion crowns ($428 million) from 5.38 billion in the year-earlier quarter, beating the 3.72 billion mean forecast seen by analysts, according to Refinitiv data.

"Despite the considerable effects on the global economy, caused by the ongoing COVID-19 pandemic, we have kept profitability and cash flow at healthy levels, which allows us to continue investing for the future," CEO Mats Rahmstrom said in a statement.

($1 = 9.0932 Swedish crowns)

(Reporting by Johannes Hellstrom; editing by Niklas Pollard)

((johannes.hellstrom@thomsonreuters.com; +46850242388; Reuters Messaging: johannes.hellstrom.reuters.com@reuters.net))

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