Engineering company Atlas Copco reports lower-than-expected sales in the first quarter, operating profit was worse than expected. Sales fell 5.1 percent to SEK 40,540 million (42,730). The outcome can be compared with Bloomberg’s analyst consensus of 41,496. Organic sales growth was 3 percent (-2).

Operating profit was SEK 8,261 million (8,605), expected to be 8,570. Operating margin was 20.4 percent (20.1).

Adjusted operating profit amounted to SEK 8,329 million (8,869), expected to be 8,496, with an adjusted operating margin of 20.5 percent (20.8).

Profit before tax was SEK 8,114 million (8,470).

Profit after tax was SEK 6,259 million (6,598).

Order intake was SEK 45,395 million (46,604), which is 2.3 percent lower than analyst consensus.

Cash flow from operating activities amounted to SEK 5,356 million (8,195).

Atlas Copco, SEK million	Q1-2026	Consensus	Change towards consensus	Q1-2025	Change
Order intake	45,395	46,484	-2.3%	46,604	-2.6%
Net sales	40,540	41,496	-2.3%	42,730	-5.1%
Organic sales growth, percent	3			-2
Operating profit	8,261	8,570	-3.6%	8,605	-4.0%
Operating margin	20.4%	20.7%		20.1%
Adjusted operating profit	8,329	8,496	-2.0%	8,869	-6.1%
Adjusted operating margin	20.5%	20.5%		20.8%
Profit before tax	8,114			8,470	-4.2%
Net profit	6,259			6,598	-5.1%
Cash flow from operating activities	5,356			8,195	-34.6%

Consensus data from Bloomberg

I added a lot of shares in Atlas Copco early 2025 and shall continue to add more in any down turn. It is a solid company with good returns and overall growth. Short term there will always be ups and downs, in the long run it is a great business to own and to be part of, as a share holder.