Husqvarna jumps on gradually improving sell-in in Q1

Husqvarna AB

24/04/2024 08:33

** Husqvarna  HUSQb.ST  shares up 7% after a "fairly
in-line" Q1 report with sell-in gradually improving
    ** The Swedish gardening equipment maker posted slightly
lower than expected Q1 results after a "cautious" start to the
year 
    ** However, Jefferies says that sell-in gradually improved
as the quarter progressed going from a "cautious" start to a
"more favourable" development as the gardening season begins
    ** The brokerage says a "fairly in-line" report could
support investors' sentiment in today's trading session
    ** The company's sales fell 14% to 14.7 billion Swedish
crowns ($1.35 billion), missing the 15.01 billion crowns
expected by analysts
    ** Sales drop, driven by weakness in Husqvarna Forest and
Garden and Husqvarna Construction, was offset by a positive
outcome in Gardena - Jefferies 
    ** Shares on track for a best day since Jan. 27, 2023, when
it closed 11.5 % higher



($1 = 10.8491 Swedish crowns)

 (Reporting by Joanna Jonczyk-Gwizdala)
 ((joanna.jonczyk@tr.com))