|Bid||0.00 x N/A|
|Ask||0.00 x N/A|
|Day's range||84.30 - 84.30|
|52-week range||60.60 - 103.40|
|Beta (5Y monthly)||1.48|
|PE ratio (TTM)||0.11|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
(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.
(Reuters) -Garden equipment and tools maker Husqvarna on Friday reported third-quarter operating profit well below market expectations, and said it would restructure its business and cut 1,000 jobs. The Swedish company reported a 40% drop in its quarterly operating profit to 555 million Swedish crowns ($49.1 million), down from 926 million crowns a year earlier and below the 644.2 million crowns expected by analysts in a Refinitiv poll. Shares in Husqvarna, already down 55% this year as of Thursday's market close, fell 5% in early Friday trade.