Husqvarna Group shares dive amid profit warning [Yahoo! Finance]
HUSQUARVA AB S/ADR (HSQVY)
NASDAQ:AMEX Investor Relations:
husqvarnagroup.com/en/ir
Company Research
Source: Yahoo! Finance
At 6:02 am (1002 GMT), Husqvarna was trading 5.5% lower at SEK 63.04. “Challenging market conditions and restrained consumer spending continue to have an impact on the Group's sales and operating result in the third quarter,” the company said in a statement. This downturn has led to reductions in inventory levels by retail partners and servicing dealers, which, coupled with other factors, is expected to result in an about 5% fall in organic sales compared to the previous year. Additionally, the company anticipates a break-even operating income result, with margins affected by lower capacity utilization and increased promotional activities. These issues are compounded by reduced consumer confidence and spending, reflecting a broader trend of economic uncertainty in the market. “Cash flow is expected to remain strong, partly driven by reductions in the Group's inventory levels,” the company said. This is attributed to the company's efforts to reduce its inventory levels, wh
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