Latest news with #garden equipment
Reuters
3 days ago
- Business
- Reuters
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)
Reuters
4 days ago
- Business
- Reuters
Sweden's Husqvarna appoints Glen Instone as new CEO
July 17 (Reuters) - Sweden's Husqvarna ( opens new tab on Thursday named insider Glen Instone as its new chief executive effective August 11. Instone will replace Pavel Hajman, who has been at the garden equipment maker's helm since May 2023. Hajman had expressed his intention in April to step down once a successor was appointed. Instone has been with Husqvarna since 2002, and is currently the president of Husqvarna's forest and garden division. Prior to that he was the company's chief financial officer. The company in April reported first-quarter operating profit below expectations hit by soft demand in North America, currency headwinds and lower prices. The company had said that its earnings before interest and tax fell 21% to 1.53 billion Swedish crowns ($156.96 million), missing analysts' average forecast of 1.71 billion crowns. ($1 = 9.7475 Swedish crowns)
