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Husqvarna Q1 earnings undershoot, hit by weather
April 24, 2013 / 6:16 AM / 4 years ago

Husqvarna Q1 earnings undershoot, hit by weather

STOCKHOLM, April 24 (Reuters) - Outdoor equipment maker Husqvarna reported a bigger than expected fall in first quarter earnings on Wednesday, hit by bad weather in Europe.

The company reported an operating profit of 688 million Swedish crowns ($104 million), down from the 930 million in the same quarter of 2012 and below the 803 million crown mean forecast in a Reuters poll.

“We have a continued cautious outlook for demand in Europe, while the outlook for North America remains more positive,” the company said in a statement.

Husqvarna announced in March the appointment of a new chief executive and has said it would focus more on improving profitability than pursuing sales growth.

$1 = 6.6191 Swedish crowns Reporting by Sven Nordenstam

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