Husqvarna drops on Q1 profit miss, weak North American demand

Husqvarna AB

24/04/2025 08:53

** Shares in Husqvarna HUSQb.ST fall 6.3% after the Swedish garden equipment and tools maker posted a first quarter profit miss, hit by soft demand in North America, currency headwinds and lower prices

** The company said in a statement it is implementing price increases and conducting a review of its supply chain to mitigate the effects

** It also said tariffs are expected to reduce costumer demand and impact the company's performance

** Jefferies said in a note the results showed flat sales, a 19% EBIT miss and declining sales in the company's Gardena division due to continued caution among retail partners

** CEO Pavel Hajman also announced he would step down, with the transition expected to take place in late 2025

** Shares are currently among the worst performers in pan-European 600 index .STOXX

(Reporting by Jesus Calero)

((Jesus.calero@thomsonreuters.com))