|Bid||0.00 x N/A|
|Ask||0.00 x N/A|
|Day's range||0.00 - 0.00|
|Beta (5Y monthly)||1.53|
|PE ratio (TTM)||0.10|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
(Reuters) -Garden tools-maker Husqvarna missed third quarter revenue expectations on Friday and announced another 300 job cuts, after people prioritising travel over time at home and a seasonal slowdown sapped demand across the sector. Husqvarna said a decline in the market worsened in the third quarter, which is typically slower as the gardening season ends in Europe and North America, where its sales are concentrated. "We are facing a continued challenging macroeconomic context and market uncertainty with delayed ordering and stock reductions," Chief Executive Officer Pavel Hajman said in an earnings statement.
(Reuters) -Husqvarna, the world's biggest maker of gardening power tools, on Tuesday posted an 11% rise in quarterly adjusted operating profit helped by price hikes and lower costs and made further progress trimming its inventory. The Swedish firm is attempting to reduce high inventory levels it purposely built up toward the end of 2021 to cope with uncertain component supply. "Given the continuing uncertain macroeconomic environment, our focus remains on further cost efficiency, improved cash flow and operational flexibility," CEO Pavel Hajman said in an earnings statement.
Bosch has agreed to increase its shareholding in Sweden's Husqvarna to roughly 12%, making it one of the biggest shareholders, in a move to strengthen their battery alliance, the German auto parts maker said. "We welcome Bosch as a large shareholder in the Husqvarna Group," Board Chairman Tom Johnstone said in a statement on Friday. The German company has so far bought less than 5% of Husqvarna shares and has an agreement for around 7% more, a Bosch spokesperson said.