Thule Group stock fell 1.48 percent as Q3 margins improve
Published on 10/04/2026 at 23:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Thule Group stock (ISIN SE0006422390) was last at SEK 193.60 on Nasdaq Stockholm on October 2, 2026, down 1.48 percent on the session. The main company signal ahead of the Q3 report is a higher gross-margin outlook, while freight and material costs continue to pressure profitability.
Q3 margin gets a mixed setup
Thule's pre-close update pointed to a 2.5 percent price increase implemented on August 1 and a one-off SEK 50 million refund for US import tariffs. According to Quartr on September 28, 2026, the refund partly offsets higher freight and material costs, while the full effect of the price increase is expected from Q4.
The update also showed net sales of SEK 10.4 billion for the 12 months ending in Q2 2026 and an EBIT margin of 16.8 percent. That combination gives investors a clear test for the next report: whether pricing and efficiency can offset cost inflation in the largest quarter.
Q2 profit grew faster than sales
Thule reported Q2 2026 revenue of SEK 3.421 billion, compared with SEK 3.403 billion in Q2 2025. Operating profit rose to SEK 756 million from SEK 703 million, while the operating margin increased to 22.1 percent from 20.7 percent, according to Affarsvarlden. Profit therefore expanded faster than revenue in the comparable quarter, although the North American market and recreational-vehicle demand remain important risk factors.
The company sells sport, outdoor and cargo products through the Outdoor and Bags and Specialty segments. Its Q2 earnings per share was SEK 4.98, compared with SEK 4.75 in Q2 2025, adding a further numerical marker for the profitability trend.
Analysts see room above SEK 267.50
MarketScreener listed a Buy mean consensus from 8 analysts, with an average target price of SEK 267.50 and a latest close of SEK 196.70 in its September 18, 2026 report. Danske Bank cut its target to SEK 280 from SEK 285 on September 18, 2026, while retaining its Buy rating, according to the same MarketScreener report.
Against the October 2 price of SEK 193.60, the average target is 38.2 percent above the price. The gap reflects the market's concern over near-term demand and costs, while the Q2 margin improvement and planned pricing actions provide the counterpoint.
Q3 results arrive October 22
Thule's Q3 2026 financial results are scheduled for October 22, 2026, according to MFN. That report should show whether the SEK 50 million tariff refund and the August price increase were sufficient to protect margins during the seasonal peak.
Thule Group stock was last at SEK 193.60 on Nasdaq Stockholm on October 2, 2026 at 5:29 p.m. CEST. Its 52-week range was SEK 185.10 to SEK 257, and market capitalization was SEK 20.9 billion.
Thule Group stock details
- Company: Thule Group AB (publ)
- ISIN: SE0006422390
- Ticker: THULE.ST
- Trading venue: Nasdaq Stockholm
- Price (as of October 2, 2026, 5:29 p.m. CEST): SEK 193.60
- Market capitalization: SEK 20.9 billion (as of October 2, 2026)
- 52-week range: SEK 185.10-257 (as of October 2, 2026)
- Sector / Industry: Consumer Discretionary / Auto, Truck and Motorcycle Parts
Upcoming dates for Thule Group stock
- October 22, 2026: Q3 2026 financial results
