Electrolux passes on higher costs as refrigerator demand heats up

Cons. Discr. - Durables 425 Earnings 610 Industrials - Capital Goods 539 Quote Watch 379 U.S. 5005

Electrolux reported 9.2% revenue growth in Q1’21 versus a year earlier as a result of consumers “allocating a larger share of their household budgets to home improvements” during the pandemic. Unit shipments in North America rose by 20.0% year over year while the value of trade receivables on the firm’s balance sheet increased by 15.5%. U.S. seaborne imports linked to the firm surged 58.7% higher year over year in Q1, including a 79.3% jump in shipments of refrigerators. The expansion has come at a cost with “higher logistics costs and production inefficiencies due to the strained supply...

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