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Husqvarna profit misses consensus by 19.0% in Q2

Husqvarna AB said its second-quarter normalized net income amounted to 1.66 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 2.05 kronor per share.

EPS increased 21.3% year over year from 1.37 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 955.0 million kronor, an increase of 21.6% from 785.4 million kronor in the year-earlier period.

The normalized profit margin climbed to 7.8% from 7.1% in the year-earlier period.

Total revenue rose 11.0% on an annual basis to 12.26 billion kronor from 11.04 billion kronor, and total operating expenses climbed 9.5% from the prior-year period to 10.59 billion kronor from 9.67 billion kronor.

Reported net income grew 18.1% on an annual basis to 1.14 billion kronor, or 1.98 kronor per share, from 962.3 million kronor, or 1.68 kronor per share.

As of July 17, US$1 was equivalent to 8.63 Swedish kronor.