Thule Sees Tariffs Hit U.S. Sales in Q3
Comprehensive income more than doubled to SEK339 million ($35.3 mm) from SEK146 million in the third quarter, helped by a SEK200 million positive swing in foreign currency translation and other comprehensive items, as revenues increased 8% to SEK1,682 million ($175.4 mm) from SEK1,561 million. Excluding comprehensive items, Thule’s net income was off 4% to SEK 181 million, hurt by 70 basis points lower gross margin at 38.5% and SG&A that expanded SEK 54 million, or 160 b.p. as a percent of revenue. ... Log in to view full article.