April 22 (Reuters) - Nokian Tyres reported a narrower loss than the market had expected on Wednesday, sending its shares higher, even as the Finnish tyre maker warned that market uncertainty was set
Nokian's quarterly loss narrows as it hikes passenger tyre prices
Financial Performance and Market Outlook
April 22 (Reuters) - Finland's Nokian Tyres reported a narrower loss than the market had expected on Wednesday despite continued market uncertainty, after it hiked prices of passenger car tyres in the first quarter.
Quarterly Results Overview
Nokian's adjusted operating loss narrowed to 4.3 million euros ($5.1 million) in the first three months of 2026, from 18.5 million euros a year ago. Analysts were expecting an average loss of 6.7 million euros in a company-provided poll.
Passenger Tyre Business Performance
Prices grew and volumes increased in the passenger tyre business in the quarter, while Nokian also managed to reduce costs of production, it said.
Market Uncertainty and Industry Risks
However, it warned that market uncertainty would persist as the U.S.-Israeli war with Iran mounts pressure on the already troubled automotive industry. Tyre makers may also take a more direct hit from soaring oil prices, as crude oil derivatives are used as a raw material to make synthetic rubber for their tyres.
Sales and Market Reaction
Nokian's quarterly sales rose 3.8% to 279.6 million euros, slightly below the market estimate of 281.5 million. The company maintained its earlier forecast for stable demand this year.
Share Price Movement
Its shares were up 2.3% as of 1020 GMT, having traded flat before the earnings publication.
(Reporting by Boleslaw Lasocki in Gdansk, editing by Milla Nissi-Prussak)
