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    HUSQ B   SE0001662230

HUSQVARNA AB (PUBL)

(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)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -0.08% 36.99 End-of-day quote.0.00%
HUSQVARNA AB (PUBL) -5.47% 133.1 Delayed Quote.-8.11%
ONE STOP SYSTEMS, INC. 0.00% 4.47 Delayed Quote.-9.70%
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Analyst Recommendations on HUSQVARNA AB (PUBL)
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Financials
Sales 2021 45 581 M 5 055 M 5 055 M
Net income 2021 4 060 M 450 M 450 M
Net Debt 2021 8 231 M 913 M 913 M
P/E ratio 2021 18,8x
Yield 2021 2,11%
Capitalization 76 223 M 8 466 M 8 454 M
EV / Sales 2021 1,85x
EV / Sales 2022 1,69x
Nbr of Employees 13 813
Free-Float 74,9%
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Technical analysis trends HUSQVARNA AB (PUBL)
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 133,10 SEK
Average target price 141,86 SEK
Spread / Average Target 6,58%
EPS Revisions
Managers and Directors
Henric Andersson President, Chief Executive Officer & Director
Glen Anthony Instone CFO & President-Husqvarna Division
Thomas Johnstone Chairman
Pavel Hajman Chief Information Officer & Senior Vice President
Anders Johanson CTO & Senior VP-Innovation & Technology
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