Husqvarna warns of ongoing slowdown

Husqvarna issued a profit warning recently, stating that it now expects a 5% fall in organic growth for its fiscal fourth quarter. The company is also forecasting a drop in operating income, with estimates ranging from a loss of SEK 700 million to SEK 800 million (USD 64.2 to 73.4 million).

In a press release, Husqvarna said the downturn to was caused by factors including continued market conditions with intensified promotional activities, particularly in North America, and an unfavorable product mix. The company added that its retail partners and servicing dealers are focusing on reducing their inventory levels resulting in reduced production volumes and lower capacity utilization.

“I am disappointed in our continued negative development in the fourth quarter. We continue to execute on our previously announced cost-saving initiatives and prepare for the 2025 gardening season with strong product launches,” says Pavel Hajman, CEO Husqvarna Group.

The report for the fourth quarter 2024 will be published on February 5, 2025.