Husqvarna AB (publ) (HUSQ_B) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and welcome to the presentation of the second quarter results of 2026 for Husqvarna Group. My name is Emily Alm and I am Head of Investor Relations. I'm joined here today by our CEO Glenn Inston and also our CFO Terry Burke. So Terry and Glenn will go through the presentation and we will then have a Q&A session. So with that, I would like to hand over to you. Thank you, Emily. Good morning, all, and a warm welcome from my side. And welcome to our Q2 report. So let's jump straight in. So following a very strong start to the year with a strong sell-in to our trade partners and very successful product launches, Q2 has been somewhat difficult. That's been really geopolitical uncertainties and a weaker consumer sentiment has certainly weighed on consumer demand. And we also had a somewhat unfavorable weather conditions really impacting the first half of the quarter, the first six weeks of the quarter. And that certainly had an impact particularly in Europe. Despite that, we managed to see a good growth in North America, and that is a good build on where we were actually after the first quarter. So we're very pleased with the continued growth in North America. Of course, the lower volumes overall and higher cost inflation is impacting our margins. However, very, very pleased to see our cash flow develop strongly into the second quarter, and we'll come back in more detail on that later in the presentation. From a real strategic execution perspective, I'm actually very pleased with where we're heading. We've managed to actually achieve and implement strong savings, and we've triggered some strong savings programs. And we've also accelerated our strategic portfolio work in terms of making some firm decisions during the second quarter. And again, I'll com...