Husqvarna drops after it warns on Q3 sales and profit
** Shares in Husqvarna HUSQb.ST fall 4.3% after the Swedish gardening equipment and tools maker said late on Tuesday it expected a 5% decline in its Q3 organic sales
** It cites challenging market conditions and restrained consumer spending, while the end of the gardening season means retail partners and servicing dealers are reducing their inventory levels
** It sees Q3 operating income at around break-even, and says margins are negatively impacted by lower capacity utilization and promotional activities
** "We expect a negative share price reaction in today's trading session and could see negative double-digit EPS revisions to consensus numbers for FY-24E," Jefferies says
** Husqvarna also says it will accelerate its ongoing cost savings programmes
** The company's shares, down 23% YTD, are on track for their worst day sine July 18 if the losses persist
Reporting by Jesus Calero
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