Sandvik AB

SAND: XSTO (SWE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Sandvik Earnings: Strong Mining and Machining Drive Outperformance

Joachim Kotze

Oct 22, 2026

Sandvik delivered 25% organic revenue growth and 22.5% adjusted EBITA margin in the third quarter, helped by robust mining demand and tungsten-related gains in machining. Shares fell 4.5% intraday as investors questioned the durability of earnings.

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Sandvik AB

Sandvik Earnings: Strong Mining and Machining Drive Outperformance

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