SKF AB Class B

SKF B: XSTO (SWE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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SKF Earnings: Adjusted Margin Flat Year on Year; Separation Costs Weigh on Cash Flow

Joachim Kotze

Apr 21, 2026

SKF reported a flat adjusted operating margin of 13.5% year on year in first-quarter 2026, despite a 9.9% currency headwind. Operating cash flow turned negative, reflecting SEK 700 million of separation-related payments and a working capital buildup.

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SKF AB Class B

SKF Earnings: Adjusted Margin Flat Year on Year; Separation Costs Weigh on Cash Flow

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