Swedish home appliance manufacturer Electrolux exceeded expectations in the second quarter performance.

Swedish home appliance manufacturer Electrolux announced on Friday that its second-quarter profit growth exceeded expectations, as the company's performance in the North American market outperformed other markets, and price increases offset cost increases related to US tariffs. The group's brands also include Frigidaire, AEG, Zanussi, and Volta, with operating profit of 797 million kronor, up from 419 million kronor in the same period last year, driven by organic sales growth of 2% in North America and Latin America. According to a survey provided by Electrolux, analysts on average predicted a profit of 710 million kronor. CEO Jonas Samuelson said in a statement, "In Europe and North America, consumers continue to shift to lower price points, and the uncertainty brought by geopolitical developments is impacting demand." However, despite a slight decline in overall demand in North America and Europe, Electrolux achieved profitability in North America with cost-cutting. The North American division, which accounted for a third of the group's sales last year, achieved an operating profit of 57 million euros, compared to a loss of 369 million euros in the same period last year. Electrolux stated in April that President Trump's tariff plan had affected consumer sentiment and downgraded the outlook for the North American market. The company said at the time that predicting tariffs was very difficult, and its goal was to offset any further tariff increases through more price hikes. Samuelson reiterated on Friday: "We reiterate that our goal is to offset the increase in costs related to tariffs in North America through price increases." Electrolux maintains a "neutral to negative" outlook for the North American market for the full year, and a "neutral" outlook for Europe, the Asia-Pacific market, and the Latin America market. The majority of Electrolux's products sold in North America are produced locally, with production facilities in the US and Mexico and most raw materials sourced locally. However, the company also imports some components and products from China.