Husqvarna AB Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 02, 2024 at 01:00 am EST
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Husqvarna AB (publ) reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was SEK 8,605 million compared to SEK 10,353 million a year ago. Net loss was SEK 1,011 million compared to SEK 1,390 million a year ago. Basic loss per share from continuing operations was SEK 1.77 compared to SEK 2.44 a year ago. Diluted loss per share from continuing operations was SEK 1.77.
For the full year, the company reported sales was SEK 53,261 million compared to SEK 54,037 million a year ago. Net income was SEK 2,177 million compared to SEK 1,935 million a year ago. Basic earnings per share from continuing operations was SEK 3.81 compared to SEK 3.39 a year ago. Diluted earnings per share from continuing operations was SEK 3.81 compared to SEK 3.38 a year ago.
Husqvarna AB is a Sweden-based company engaged in the development, manufacture and marketing of outdoor power products, consumer watering products, cutting equipment and diamond tools for construction and stone industries. The Companyâs product offering includes robotic lawn mowers, garden tractors, chainsaws and trimmers. The Companyâs operations are divided into three business areas: the Europe and Asia/Pacific business area sells forest, park and garden products to retailers and dealers in Europe and Asia/Pacific; the Americas business area sells forest, park and garden products to retailers and dealers on the American continents, and the Construction business area sells light construction products for cutting, drilling, polishing and demolition of hard materials. The Companyâ subsidiaries include, among others, Husqvarna Australia Pty. Limited, Husqvarna Finance Belgium SA, Husqvarna Belgium SA and Koubachi AG.