Husqvarna drops to bottom of STOXX on weak Q2 results

Husqvarna AB

18/07/2024 08:13

** Shares in Husqvarna  HUSQb.ST  slump 11.5% after the
Swedish garden equipment and tools maker reported a 9% drop in
Q2 sales due to cautious consumer spending and unfavourable
weather conditions in Central Europe and North America
    ** Q2 net sales were SEK 15.43 billion ($1.46 billion),
around 8% below an LSEG estimate of SEK 16.70 billion
    ** Jefferies said before the bell that the weak results with
declining sales and margins would likely cause a negative share
price reaction
    ** The stock is the biggest faller on the pan-European STOXX
600 index  .STOXX  and on track for its worst day since March
2020 if losses persist

($1 = 10.5475 Swedish crowns)

 (Reporting by Antonis Pothitos)
 ((antonis.pothitos@thomsonreuters.com))