Swiss Schindler’s quarterly profit drop beats estimates

2022.04.22 09:46

FILE PHOTO: The logo of Swiss elevator maker Schindler is seen during the annual news conference in Zurich, Switzerland February 14, 2020. REUTERS/Arnd Wiegmann

By Ana CanteroRos and Alexander Kloss

(Reuters) – Swiss elevator and escalator maker Schindler reported on Friday a drop in first-quarter net profit, but beat the company’s consensus forecast, despite supply chain woes, cost inflation, lockdowns and market contraction in China.

Net profit of 144 million Swiss francs ($151.07 million) was below the year-earlier figure of 213 million, but beat the forecast of 137.4 million francs made by analysts in a company-compiled consensus.

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