GDANSK (Oct 23): Swedish home appliance maker Electrolux beat expectations for third-quarter core profit on Friday helped by cost savings, but flagged that demand in its key North America region continued to weaken.

"Competitive pressure remained high, alongside significant cost headwinds from external factors, including raw material, logistic costs and US tariffs," president and CEO Yannick Fierling said in a statement.

Quarterly adjusted operating income came in at 912 million Swedish crowns (US$92 million), against 867 million expected by analysts in a company-compiled poll, with organic sales growing 3.5%.

Electrolux, under pressure from cautious consumer behaviour, cut-price competition and rising costs, has been restructuring its business and cutting costs.

The company said that inflation worries continued to dent consumer confidence in North America, a region that accounted for 35% of group sales in the quarter.

Fierling said customers in the region had shifted toward "lower price points", prioritising affordability.

Sales in the region were up 2%, but mainly driven by price increases, Electrolux said.

Consumer confidence in the United States has fallen to the lowest level since 2014, a survey showed in September, amid pressure from high interest rates, increased energy prices and costs of living.

Home appliance makers in the country also faced product discounting earlier in the year, which squeezed their margins.

Electrolux now expects prices and volumes to have a neutral impact on its result in 2026, having previously expected a positive contribution.

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