5 days ago
Garden gear maker Husqvarna beats profit expectations in Q2
July 18 (Reuters) - Swedish garden equipment maker Husqvarna ( opens new tab reported its second-quarter operating profit above market expectations on Friday, helped by demand for robotic lawnmowers and margin gains from cost savings and efficiency measures.
Husqvarna's earnings before interest and tax rose 8.6% to 2.06 billion Swedish crowns ($211.79 million) in the quarter, beating analysts' average forecast of 1.84 billion crowns according to data compiled by LSEG.
The second quarter, when demand for garden tools and robotic lawnmowers peaks, marks Husqvarna's most important sales season that offers a clearer view of what is resonating with consumers after the early spring sell-in.
Investors are also watching for signs that the robotic mower business is regaining lost ground, with attention now turning to how the newly appointed CEO will steer the group forward.
($1 = 9.7268 Swedish crowns)
