Husqvarna Group (HUSQ) reported a third-quarter operating loss of SEK 334m, reversing a profit in the prior-year quarter. Sales fell 2% to SEK 9,012m, with an organic decline of 5%. Operating margin fell to -3.7% from 1.5%, and diluted earnings per share fell to SEK -0.70 from SEK -0.02.
Quarterly free operating cash flow was SEK 2,422m versus SEK 2,423m, while net debt declined to SEK 9.4bn from SEK 9.9bn. Organic sales fell 10% in Forest & Garden but grew 8% at Gardena. For January–September, sales fell 5% to SEK 37,356m and operating income declined to SEK 2,977m from SEK 3,735m. Husqvarna said its program remains on track for SEK 3bn in gross savings by end-2028; year-to-date savings reached approximately SEK 935m. European weakness, inventory reductions and higher costs weighed on quarterly profitability, and the company expects near-term headwinds to remain.
Husqvarna Group (HUSQ) said challenging market conditions and restrained consumer spending have hit third-quarter performance, with the gardening season winding down and retail partners reducing inventories.
The Group expects organic sales to decline by approximately 5% year‑on‑year for Q3 and an approximately break‑even operating income. Margins are pressured by lower capacity utilization and promotional activity, while cash flow is expected to remain strong partly due to inventory reductions. Management is accelerating cost‑saving programs and will present further mitigating actions in the Q3 report.
The company highlighted continued sales growth in robotic mowers for the professional market, consumer battery products and parts & accessories, and plans significant product launches next year. The Q3 report will be published on 23 October 2024.