Atlas Copco AB Class A

ATCO A: XSTO (SWE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Atlas Copco Earnings: Semi Inflection Confirmed; Currency Noise Masks a Solid Quarter

Joachim Kotze

Apr 28, 2026

Atlas Copco delivered first-quarter 2026 organic order growth of 5%, with vacuum technique, or VT, surging 32% as semiconductor demand inflected materially. A SEK 1.3 billion currency headwind pushed reported margins to 20.4%, masking positive organic earnings growth across all four business areas.

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Atlas Copco AB Class A

Atlas Copco Earnings: Semi Inflection Confirmed; Currency Noise Masks a Solid Quarter

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