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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Husqvarna AB    HUSQ B   SE0001662230

HUSQVARNA AB

(HUSQ B)
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Husqvarna sees sales recovery as pandemic restrictions ease

06/08/2020 | 05:06am EST

By Johannes Hellstrom

Husqvarna, the world's biggest gardening power tools maker, said on Monday that second-quarter sales are likely to drop considerably less than analysts expect as COVID-19 restrictions are eased in many countries.

The global leader in robotic lawn mowers and garden watering systems expects sales to fall 10% in the second quarter from a year earlier if the current recovery trend continues. That compares to a 20% drop forecast by analysts, according to data from Refinitiv.

"In light of eased restrictions and an increased interest in gardening categories, especially watering products, market conditions have improved," Husqvarna said in a statement.

Shares of the Swedish group had risen 1.1% by 0823 GMT to stand unchanged from their level at the start of 2020.

Analysts at DNB said in a research note that large upgrades to earnings estimates were warranted due to strong developments in high-profit areas such as irrigation products.

After reporting a 11% decline in first-quarter sales, Husqvarna's CEO said in April that he expected the April-June period to be even grimmer.

Husqvarna said on Monday that currency-adjusted sales for April-May had dropped around 12% versus a year earlier, with around 10% of its trade partners currently affected by lockdown measures, compared to 25% at the start of the second quarter.

Husqvarna will report second-quarter earnings on July 16.

(Reporting by Johannes Hellstrom; Editing by Simon Johnson, Niklas Pollard, Kirsten Donovan)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -2.95% 22.73 Delayed Quote.47.02%
DNB ASA -1.83% 165.9 Real-time Quote.-1.25%
HUSQVARNA AB -1.62% 109 Delayed Quote.2.35%
ONE STOP SYSTEMS, INC. -4.04% 4.75 Delayed Quote.18.75%
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Financials
Sales 2020 41 756 M 4 978 M 4 978 M
Net income 2020 2 537 M 302 M 302 M
Net Debt 2020 7 598 M 906 M 906 M
P/E ratio 2020 24,6x
Yield 2020 2,13%
Capitalization 62 467 M 7 460 M 7 447 M
EV / Sales 2020 1,68x
EV / Sales 2021 1,61x
Nbr of Employees 12 321
Free-Float 74,6%
Chart HUSQVARNA AB
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Husqvarna AB Technical Analysis Chart | HUSQ B | SE0001662230 | MarketScreener
Technical analysis trends HUSQVARNA AB
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 109,86 SEK
Last Close Price 109,00 SEK
Spread / Highest target 14,7%
Spread / Average Target 0,79%
Spread / Lowest Target -12,8%
EPS Revisions
Managers and Directors
NameTitle
Henric Andersson President & Chief Executive Officer
Thomas Johnstone Chairman
Glen Anthony Instone Chief Financial Officer & SVP-Finance
Anders Johanson CTO & Senior VP-Innovation & Technology
Ulla Viveka Litzén Independent Director
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