SKF Posts Good 2Q Results
So far into 2018, SKF organic revenue growth is trending ahead of our expectations, with no signs yet of a slowdown in the cycle. Volume improvements and cost-cutting are coming through in margin expansion. We plan to increase our SEK 195 fair value estimate by less than 5% based on the results. The issue at hand for SKF and other more cyclically sensitive capital goods companies in our coverage is risk of a slowdown in industrial capacity investment, owing to caution from a potentially expandin...AB SKF is the parent company of the SKF Group, which supplies products, solutions and services within rolling bearings, seals, mechatronics, services and lubrication systems. Services include technical support, maintenance services, condition monitoring, asset optimization, engineering consultancy and training. Co.'s business areas are: SKF Industrial Market - Strategic Industries, which includes bearings and bearing accessories and lubrication systems; SKF Industrial Market - Regional Sales and Service, which develops SKF Solution Factory facilities providing engineering capability; and SKF Automotive, which develops and manufactures bearings, seals and related products and services.
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