Husqvarna at 14-year lows after Q3 profit miss

Husqvarna AB

Wed 08:45

** Shares in Husqvarna HUSQb.ST fall around 8% after the Swedish garden equipment maker posted Q3 operating miss, hit by weak European demand, drought and competition in robotic lawnmowers
** Stock hits its lowest price since September 2012 
** Adjusted operating loss came in at 246 million Swedish crowns ($24.8 million), against expectations for a profit of 25 million crowns, according to Jefferies
** Organic sales fell 5% in the third quarter, weighed down by weak European demand and widespread drought
** Jefferies says in a note lower sales volumes, an unfavourable product mix and rising raw material and logistics costs had more than offset savings, resulting in a significant profitability miss



 (Reporting by Jesus Calero)
 ((jesus.calero@thomsonreuters.com))