Connect with us

Technology

REFINANCE ACTIVITY UP AGAIN DURING FOURTH QUARTER DESPITE BROADER U.S. DOWNTURN IN HOME MORTGAGES

Published

on

Home Loans Shrink 3 Percent Quarterly as Interest Rates Climb and Sales Listings Remain Low;Purchase and Home-Equity Lending Dips While Refinance Deals Increase Again;Total Activity Still Down 60 Percent from 2021 Peak

IRVINE, Calif., Feb. 27, 2025 /PRNewswire/ — ATTOM, a leading curator of land, property data, and real estate analytics, today released its fourth-quarter 2024 U.S. Residential Property Mortgage Origination Report, which shows that 1.64 million mortgages secured by residential property (1 to 4 units) were issued in the United States during the fourth quarter. That was down 3 percent quarterly but up 14 percent from a year earlier.

The quarterly drop-off – after increases earlier in 2024 – came as mortgage rates rose, supplies of residential properties for sale remained near five-year lows and the home-buying market hit its usual Fall slow season. Despite the annual gain in lending activity, the total number of home mortgages issued during the fourth quarter of last year remained down by nearly two-thirds from a high point hit in 2021.

The latest trend resulted from declines in purchase and home-equity lending tempered by an increase in refinance packages.

Lending to home buyers shrank 7.5 percent from the third to the fourth quarter of 2024, to about 732,000, while the number of home equity credit lines dipped 11.6 percent, to roughly 267,000. Mortgage rollovers, however, increased for the third consecutive quarter, growing 6.4 percent to about 642,000.

Measured monetarily, lenders issued $568 billion worth of residential mortgages in the fourth quarter of 2024. That was up 1.4 percent from the third quarter of 2024 and 26.3 percent from the fourth quarter of 2023.

The mixed pattern of ups and downs among various loan types raised the portion of all residential mortgages represented by refinance deals, while lowering the purchase and home-equity loan components. Nevertheless, purchase loans once again stood as the most common form of mortgages around the U.S. during the fourth quarter, comprising almost half.

“The in-boxes of mortgage lenders emptied out a bit during the Fall of 2024 following a couple of strong quarters that had pointed to a possible revival for the industry. Things slowed down as the market remained tight and the cost of borrowing went back, all during the usual annual home-buying lull,” said Rob Barber, CEO at ATTOM. “One small surprise emerged with refinancings increasing again despite rising interest rates. That may have happened because rates started the quarter at one of the more attractive points over the past few years, suggesting that homeowners were trying to get their mortgages reset before borrowing costs went back up.”

He added that “forces remain in places for lending to remain slow. But the fallback was modest, and the trend should turn back around to some degree over the coming months as the weather warms and home buying heats back up, especially if mortgage rates settle down.”

Total lending ticks downward, still less than half of 2021 high points
Banks and other lenders issued a total of 1,640,106 residential mortgages in the fourth quarter of 2024. That was down 3.3 percent from 1,695,915 in third quarter of 2024, although still up from 1,433,864 in the fourth quarter of 2023.

Total activity went down after two straight quarterly gains, keeping the latest count 60 percent beneath a recent high point of 4,135,893 reached in the first quarter of 2021 when average 30-year mortgages rate hovered around 3 percent.

A total of $568.5 billion was lent to homeowners and buyers in the fourth quarter of last year, up slightly from $560.7 billion in the prior quarter and from $450.2 billion in the fourth quarter of 2023. Still, it was less than half the peak of $1.3 trillion hit in 2021.

Overall lending activity followed downward quarterly and upward annual trends in a majority of metropolitan areas around the U.S. with enough data to analyze. The total decreased from the third quarter to the fourth quarter of last year in 132, or 65.3 percent, of the 202 metropolitan statistical areas that had a population of 200,000 or more and at least 1,000 total residential mortgages issued from October through December of 2024. It remained up from the fourth quarter of 2023 in 175, or 86.6 percent, of the metro areas analyzed.

The largest quarterly decreases came in St. Louis, MO (total lending down 31 percent from the third quarter of 2024 to the fourth quarter of 2024); Augusta, GA (down 23.4 percent); Savannah, GA (down 21 percent); Baton Rouge, LA (down 20.6 percent) and Beaumont, TX (down 20.1 percent).

Aside from St. Louis, metro areas with a population of least 1 million that had the biggest decreases in total loans from the third to the fourth quarter of 2024 were Atlanta, GA (down 18.9 percent); Rochester, NY (down 16.5 percent); Virginia Beach, VA (down 15.9 percent) and Tampa, FL (down 13 percent).

Metro areas with enough data to analyze where lending increased the most quarterly were Honolulu, HI (up 58.7 percent); Hilo, HI (up 51.8 percent); Hilton Head, SC (up 39.7 percent); Charleston, SC (up 26 percent) and Buffalo, NY (up 18.9 percent)

Measured annually, the largest increases in total lending among metro areas with a population of at least 1 million were in San Jose, CA (total lending up 78.1 percent from the fourth quarter of 2023 to the fourth quarter of 2024); Honolulu, HI (up 75 percent); Los Angeles, CA (up 43 percent); San Francisco, CA (up 40.7 percent) and San Diego, CA (up 40.1 percent).

Purchase mortgages decline amid tight market and slow buying season but remain most common loan
The decline in overall fourth-quarter lending activity was driven largely by the latest decrease in the number of mortgages issued to home buyers, which dropped to 731,517.

While lending to buyers remained up annually by 6.4 percent, the fourth-quarter total was off from 790,970 in the prior quarter. It also sat far below a 1.6 million highwater mark hit in the Spring of 2021.

The latest dollar volume of purchase loans, $289.7 billion, was 5.5 percent less than the $306.5 billion third-quarter level and 45.7 percent below a 2021 peak. Still, it was up 16.2 percent from the $249.3 billion amount loaned in late 2023.

Residential purchase-mortgage originations decreased quarterly in 79.7 percent of the 202 metro areas in the report while they were up annually in 70.3 percent of those markets.

The largest quarterly decreases were in St. Louis, MO (purchase loans down 36.2 percent from the third quarter of 2024 to the fourth quarter of 2024); Augusta, GA (down 31.1 percent); Baton Rouge, LA (down 30.4 percent); Atlanta, GA (down 27.9 percent) and Shreveport, LA (down 27.2 percent).

Aside from St. Louis and Atlanta, the biggest quarterly decreases in metro areas with a population of at least 1 million in the fourth quarter of 2024 came in Virginia Beach, VA (down 21.4 percent); Minneapolis, MN (down 18.2 percent) and San Antonio, TX (down 17.4 percent).

The top annual increases in purchase lending in metro areas with a population of at least 1 million were in Honolulu, HI (up 113.5 percent from the fourth quarter of 2023 to the fourth quarter of 2024); San Jose, CA (up 50.2 percent); Birmingham, AL (up 42.1 percent); Portland, OR (up 41.8 percent) and Las Vegas, NV (up 39.1 percent).

Refinance activity up for third consecutive quarter
Despite interest rates rising during the fourth quarter of last year, the number of residential refinance mortgages issued by lenders climbed to 641,918. That was up from 603,324 in the prior three-month period and by 28.2 percent from 500,877 in the fourth quarter of 2023.

The recent increase marked the third quarterly gain in a row, reaching the highest point since mid-2022. Refinancing activity has gradually increased over the past two years following a spike in interest rates in 2021 and 2022 that caused mortgage rollovers to slump more than 80 percent.

The $228.5 billion dollar volume of refinance packages in the fourth quarter of 2024 remained significantly below a peak of $830.9 billion in 2021. But it was up 15.7 percent from $197.6 billion in the third quarter of last year and up 46.7 percent from $155.8 billion in the fourth quarter of 2023.

Refinancing activity increased quarterly in 73.8 percent and annually in 93.1 percent of the metro areas around the U.S. with enough data to analyze.

The largest quarterly increases were in Hilton Head, SC (refinance loans up 56.4 percent from the third to the fourth quarter of 2024); Wilmington, NC (up 48.9 percent); San Jose, CA (up 43.8 percent); Buffalo, NY (up 41.9 percent) and San Francisco, CA (up 35.4 percent).

Aside from San Jose, San Francisco and Buffalo, metro areas with a population of least 1 million where refinance activity increased most quarterly were Denver, CO (up 23.9 percent) and Houston, TX (up 22.5 percent).

Metro areas with a population of least 1 million and the largest year-over-year increases in the number of refinance loans were San Jose, CA (up 170.6 percent from the fourth quarter of 2023 to the fourth quarter of 2024); San Francisco, CA (up 113.8 percent); Seattle, WA (up 86.8 percent); Los Angeles, CA (up 84.6 percent) and San Diego, CA (up 80.9 percent).

Refinance packages comprised 39.1 percent of all loan originations in the fourth quarter of 2024. That was up from 35.6 percent in the prior quarter to the highest level since early in 2022, but still not close to the 65.7 percent portion in 2021.

HELOC lending also down quarterly while up annually
As with overall lending, home-equity lines of credit (HELOCs) decreased quarterly but were higher annually. The latest total of 266,171 was off from 301,622 in the third quarter of 2024 while remaining up 8.6 percent from 245,518 in the last few months of 2023.

The $50.2 billion volume of HELOC loans in the fourth quarter of 2024 was down from $56.6 billion in the prior quarter but more than the $45 billion lent in the fourth quarter of 2023.

HELOCs comprised 16.3 percent of all loans in the most recent quarter. That was down from the 17.8 percent portion in the third quarter of 2024 but still almost four times the level recorded in 2021.

HELOC mortgage originations decreased from the third quarter to the fourth quarter of 2024 in 86.6 percent of the metro areas analyzed. The largest quarterly decreases in metro areas with a population of at least 1 million were in Atlanta, GA (down 53.3 percent); St. Louis, MO (down 40.3 percent); Virginia Beach, VA (down 28.9 percent); Houston, TX (down 27.7 percent) and Rochester, NY (down 25.2 percent).

FHA and VA mortgages grow as portion of all loans
Lenders issued 244,984 mortgages backed by the Federal Housing Administration (FHA) during the fourth quarter of 2024, representing 14.9 percent of all residential property loans. That was up from 13.6 percent in the third quarter of last year although still down from 15.8 percent in the fourth quarter of 2023.

Residential loans backed by the U.S. Department of Veterans Affairs (VA) totaled 106,900, or 6.5 percent of all residential property loans originated in the fourth quarter of 2024. That also was up, from 5.8 percent in the previous quarter as well as from 4.4 percent in the fourth quarter of 2023.

Report methodology
ATTOM analyzed recorded mortgage and deed of trust data for single-family homes, condos, town homes and multi-family properties of two to four units for this report. Each recorded mortgage or deed of trust was counted as a separate loan origination. Dollar volume was calculated by multiplying the total number of loan originations by the average loan amount for those loan originations.

About ATTOM
ATTOM provides premium property data and analytics that power a myriad of solutions that improve transparency, innovation, digitization and efficiency in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include ATTOM Cloud, bulk file licenses, property data APIs, real estate market trends, property navigator and more. Also, introducing our newest innovative solution, making property data more readily accessible and optimized for AI applications – AI-Ready Solutions.

Media Contact:
Megan Hunt
Megan.hunt@attomdata.com

Data and Report Licensing:
949.502.8313
datareports@attomdata.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/refinance-activity-up-again-during-fourth-quarter-despite-broader-us-downturn-in-home-mortgages-302386571.html

SOURCE ATTOM

Continue Reading

Technology

Unity: The Convergence of the Three Main Red Army Forces

Published

on

By

BEIJING, Oct. 21, 2026 /PRNewswire/ — An interview from China.org.cn with Wang Xiaohui and David Ferguson on the Long March:

Wang Xiaohui:

We have all been through something similar — a group of people disagreeing with one another, with each side holding sound reasons to believe their own judgment is correct.

In such moments, should they part ways, or find another path forward together?

David Ferguson:

The word “unity” is often understood as a strategy. People unite when they face a common enemy, and when that enemy disappears, the cooperation ends with it. But I’ve always wondered if there is a different kind of unity — one not forged by a common enemy, but by a common destination. A unity that isn’t temporary, that doesn’t fall apart the moment circumstances change. I wanted to find out.

Wang Xiaohui:

An arduous expedition like the Long March posed unparalleled trials for any military unit.

Bitter cold on snow-capped mountains, hidden mire across marshlands, and dangers lurking every step of the way; food and warm clothes were constantly scarce, while enemies and artillery fire were relentless. Even so, through the Long March, these poorly equipped and raggedly dressed Red Army troops remained tightly bonded as one.

This bond was not coerced by harsh military discipline, but arose spontaneously from every soldier’s heart. Before they even set off, shared ideals and conviction had already taken deep root within every soldier, steeling their resolve to follow the Communist Party of China without hesitation. Along the trail, officers and soldiers of the Red Army ate from the same pots and wore uniforms made from the same coarse cloth. High-ranking commanders like Zhu De and Peng Dehuai covered most of the journey on foot alongside their troops, leaving their horses to the ill and wounded, while splitting their last rations with soldiers. Amid food shortages, even when columns in the front discovered edible greens, they would never dig them all up; instead, they sent words to rear units so that all troops could share.

The Red Army’s unity took root in shared ideals, flourished under equal treatment for all, and was forged through countless moments of entrusting each other with their lives. It also became the unshakable foundation that carried them through every ordeal.

In the late autumn of 1936, the Loess Plateau in northwestern China witnessed two hopeful rendezvous, marking the Long March’s triumphant close. First in Huining, soldiers of the First and Fourth Front Armies embraced in a long-awaited reunion. Just over 10 days later, at Jiangtaibu, the waiting First Front Army finally greeted the travel-worn soldiers of the Second Front Army.

Many of these soldiers had never met before, yet they greeted one another like long-lost brothers, eyes brimming with tears as they clasped hands. Officers and soldiers of the First Front Army sent whatever supplies they had saved up to their brother troops. Three battle-hardened columns merged into a mighty iron stream across the plateau. Just one month later, they fought in coordinated formation to secure triumph in the battle of Shanchengbao, putting a glorious full stop to the Long March.

When scattered sparks merge, inherent unity surges into a mighty force, powerful enough to rewrite an army’s fate and shift the course of a nation’s history.

At the time, Japanese invaders advanced deeper into China, occupying more and more territory, yet the civil war persisted. The CPC clearly understood that brutal conflict among the Chinese would only play to the invaders’ hands, and only national unity could safeguard the motherland. The CPC publicly called for an end to the civil war and joint resistance against Japanese invaders, officially proposed to build the national united front against Japanese aggression, and even took the initiative to halt military operations and withdraw troops as a gesture of goodwill — when the survival of a nation hung by a thread, they chose to unite all Chinese people.

The two KMT officers, Zhang Xueliang and Yang Hucheng, who were stationed in the northwest, witnessed the nation’s peril and were touched by the CPC’s advocacy of a united resistance. Resolved to collaborate with the CPC to fend off Japanese aggression, Zhang and Yang repeatedly pleaded with Chiang Kai-shek to shift focus to national defense, but to no avail. Ultimately, they detained Chiang by force, which later became known as the Xi’an Incident.

When word spread of Chiang’s detention, many assumed the CPC would demand a public trial, given years of bitter partisan strife. Instead, Zhou Enlai personally traveled to Xi’an with the CPC delegation to mediate, laying out the stakes for all parties concerned: executing Chiang would only result in a much larger-scale civil war, handing the Japanese aggressors golden opportunities to advance further into China. The only path to a promising future for the Chinese nation lay in a peaceful settlement that would compel Chiang to join the resistance against Japanese aggression.

Setting aside partisan divisions and prioritizing the supreme interests of the nation — this was the answer delivered by the CPC. At last, the Xi’an Incident was settled in peace, bringing an end to a decade of war. Since then, the Chinese nation finally stood united in fighting back against foreign invasion.

Nearly a century has passed, yet the spirit of unity forged on the Long March has never faded.

In September 1949, the First Plenary Session of the Chinese People’s Political Consultative Conference (CPPCC) was convened, officially instituting the system of multiparty cooperation and political consultation under the leadership of the Communist Party of China. The spirit of solidarity tempered amid the Long March was thereafter embedded in the very fabric of China’s governance system, with unity becoming one of its enduring tenets.

From the early reconstruction years since the founding of the People’s Republic of China in 1949, through the era of reform and opening up since 1978, to today’s march toward China’s modernization, each successive trial has burnished this core spirit of unity. In the fight against absolute poverty, the whole nation pulled together as a single force: the more developed eastern regions lent robust support to underdeveloped western regions, officials devoted themselves to working at grassroots communities, and local residents worked hard and strove for self-improvement. Together, hundreds of millions of Chinese worked to eradicate absolute poverty nationwide. When earthquakes and floods struck, rescue teams rushed to disaster zones from every corner of the country, while relief supplies and charitable donations poured in ceaselessly.

From the helping hands extended between soldiers along the Long March to the nationwide solidarity repeatedly demonstrated today, the essence of unity has never changed. It was the key that carried the Red Army through seemingly impossible odds, and it endures as China’s bedrock strength that propels China forward to this day.

David Ferguson:

After hearing the stories of the reunion of the three main forces of the Red Army and the Xi’an Incident, I found my answer.

The Long March showed me that unity is a condition for survival — not in the sense of “I need you for now, so let’s work together.” Rather, it was “We believe in a common cause, so we must stand together.” That kind of unity does not dissolve when the danger is gone, because it is rooted not in fear, but in conviction.

Whether I look at stories of the Long March or at China’s development today, what strikes me is not simply unity itself. What gives unity its power is the shared ideal that enables people to stand together, and the common mission that at critical moments, enables them to rise above the interests of the individual, of groups, and even of political parties.

Wang Xiaohui:

From the arduous trails of the Long March to the contemporary journey of national rejuvenation, when a group of people or a whole nation stand united around common ideals, they will always arrive at the future they hoped for, no matter how lengthy and winding the road ahead is.

China Mosaic 
http://www.china.org.cn/video/node_7230027.htm 

Unity: The Convergence of the Three Main Red Army Forces
http://www.china.org.cn/2026-10/20/content_118741729.shtml 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/unity-the-convergence-of-the-three-main-red-army-forces-302914999.html

SOURCE China.org.cn

Continue Reading

Technology

KingClean Debuts at the 140th Canton Fair with One-Stop ODM Solutions for Global Brands

Published

on

By

GUANGZHOU, China, Oct. 21, 2026 /PRNewswire/ — KingClean, a global leader in home appliances and cleaning solutions, showcased its latest smart home product line at the 140th Canton Fair, which includes cleaning appliances, kitchen and coffee equipment, drinking equipment, personal care and air comfort products. During the exhibition, KingClean held in-depth discussions with global channel partners at Booths E30–36 and F13–19, Hall 2.2, Zone A.

KingClean showcased over 40 innovative products. The cleaning appliances exhibition area covers cordless stick vacuum cleaners with docking stations, upright 3-in-1 wet-and-dry vacuum cleaner with steam, spot cleaner with steam, cordless mattress cleaners and canister. The kitchen appliance exhibition area showcases products such as cooking robot, commercial blenders, and fully automatic coffee machines. The water & beverage solutions area presents desktop intelligent water purifiers with functions of water purification, sparkling water, ice making, and tea brewing. In addition, KingClean balances personal care with environmental comfort, showcasing water-ion turbofan hair dryers, desktop air purifiers, and smart air circulation fans.

The collaboration between high-performance cleaning equipment and intelligent base stations is the key direction of this exhibition. The exhibits include cordless vacuum cleaners equipped with high-power motors, dust‑cup or dust‑bag docking stations, charging and automatic cleaning functions, as well as floor cleaning vacuum cleaners that integrate functions of steam cleaning, automatic water refilling, and hot air drying. Multiple reference models intuitively demonstrate how the same technology platform can flexibly adapt to different power levels, structural schemes, and accessory configurations.

KingClean also showcased a series of home fully automatic coffee machines, smoothies and ice-making equipment, as well as desktop intelligent beverage purifiers that supported flexible combinations of sparkling water, ice water, tea brewing, and coffee related modules in the beverage area. These exhibits could be further customized based on the customer’s beverage menus, usage frequency, and after-sales mode.

“We connect globally through innovative products, focusing on smart solutions that improve life and strengthen our leadership in the smart home industry” said Nate Yang, Senior Marketing Director at KingClean Electric Co., Ltd.

About KingClean

KingClean was founded in 1994 and is headquartered in Suzhou, China. The company specializes in high-end smart home appliances and mechatronic products, with motor as our core technology.

For more information, visit http://www.kingclean.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/kingclean-debuts-at-the-140th-canton-fair-with-one-stop-odm-solutions-for-global-brands-302914851.html

SOURCE KingClean

Continue Reading

Technology

Husqvarna Group: INTERIM REPORT JANUARY – SEPTEMBER 2026

Published

on

By

STOCKHOLM, Oct. 21, 2026 /PRNewswire/ — 

Consistent strategy execution in a continued challenging market 

Third quarter 2026

Net sales decreased organically by 5%.Net sales decreased by 2% to SEK 9,012m (9,204), and included a positive impact of 3% from changes in exchange rates.Operating income amounted to SEK -334m (141) and the operating margin was -3.7% (1.5).Items affecting comparability (IAC) amounted to SEK -88m. These were primarily related to the execution of cost-saving initiatives.Excluding IAC, operating income amounted to SEK -246m (140), and the operating margin was -2.7% (1.5).Earnings per share (EPS) after dilution amounted to SEK -0.70 (-0.02) and EPS excluding IAC and after dilution amounted to SEK -0.58 (-0.02).Free operating cash flow was SEK 2,422m (2,423).Net debt was SEK 9.4bn (9.9).

January – September 2026

Net sales decreased organically by 2%.Net sales decreased by 5% to SEK 37,356m (39,184), and included an impact of -3% from changes in exchange rates.Operating income amounted to SEK 2,977m (3,735) and the operating margin was 8.0% (9.5).Items affecting comparability (IAC) amounted to SEK -445m. These were primarily related to the execution of cost-saving initiatives.Excluding IAC, operating income amounted to SEK 3,421m (3,742), and the operating margin was 9.2% (9.5).IEEPA-related tariff refunds of SEK 240m were recognized in COGS during the second quarter.Earnings per share (EPS) after dilution amounted to SEK 3.14 (4.43) and EPS excluding IAC and after dilution amounted to SEK 3.74 (4.44).Free operating cash flow was SEK 4,891m (4,743).

CEO Comment

We are making solid progress on our strategic priorities. Our cost savings program remains on track, recent product launches are receiving encouraging customer feedback, and we are broadening our presence across sales channels. Although these measures have not yet fully offset current market headwinds, they reinforce our confidence in the Group’s long-term competitiveness and prospects.

Financial performance summary

Net sales were SEK 9,012m (9,204), representing an organic decline of 5% in the quarter, primarily driven by continued weakness in Europe. Organic sales in the Husqvarna Forest & Garden Division declined by 10%, sales in the Husqvarna Construction Division were unchanged, while the Gardena Division delivered solid organic growth of 8%. Performance in the Husqvarna Forest & Garden Division was significantly affected by the widespread drought across large parts of Europe and continued weak consumer demand in key markets, including Germany and France. In contrast, strong growth in the Gardena Division’s Watering business highlighted the resilience of our diversified portfolio, gaining market shares in key markets, and the Husqvarna Construction Division has continued good momentum in its aftermarket business. I am also encouraged by continued growth across all three divisions in North America.

Operating income excluding IAC was SEK -246m (140), corresponding to a margin of -2.7% (1.5). The result reflected lower volumes in the Husqvarna Forest & Garden Division, an unfavorable product mix, inventory reductions and cost increases on raw materials and logistics costs. Free operating cash flow was stable at SEK 2,422m (2,423), as lower operating income was offset by changes in working capital, primarily driven by reduced inventories. We further strengthened the balance sheet, reducing net debt to SEK 9.4bn (9.9).

Executing on cost savings while navigating cost headwinds

Our transformative cost savings program remains on track to deliver SEK 3bn in gross savings by the end of 2028. Year-to-date savings reached approximately SEK 935m, including around SEK 305m in the third quarter, driven mainly by sourcing activities and personnel reductions. However, lower volumes, inventory reductions and cost headwinds continue to weigh on profitability. We are responding with targeted price increases, supply chain actions and product cost optimization, which will partly offset these pressures, although near-term headwinds are expected to remain.

We are advancing our asset-light strategy through further outsourcing initiatives. We will transfer production of selected Husqvarna-branded battery handheld products from Europe to Asia, using both our own facilities and external partners to enhance efficiency and competitiveness.

In addition, the ongoing discontinuation of the stone diamond tool business in the Construction Division, the phase-out of our Brastad component factory in the Husqvarna Forest & Garden Division and relocation of selected activities within Gardena’s European manufacturing network are progressing according to plan.

Unlocking the next phase of robotics growth

Our robotic lawn mowing business faced a difficult quarter, with adverse weather, competitive headwinds, and elevated channel partner inventories in Europe constraining demand for Husqvarna- and Gardena-branded products. Although recent performance has fallen short of expectations, we remain the clear market leader and we are confident in our strategy and longer-term development.

The strategic review of the Powered Garden BPU in the Gardena Division is ongoing and we aim to provide an update in the beginning of next year. Our priorities in the Husqvarna Forest & Garden Residential Robotics BPU include expanding our retail footprint and product range across price points and channels, strengthening the robotics organization and development model.

During the quarter, the US became the largest market in terms of sales for our Professional Robotics BPU, driven mainly by continued growth in the golf segment. Upcoming product launches and broader US distribution are expected to further strengthen our competitive position next season. We are also encouraged to be the first robotics company to receive conditional approval from the Federal Communications Commission (FCC) for foreign-produced advanced robotic devices in the US market.

Building a stronger, more competitive Husqvarna Group

We are accelerating change across the Group to create a leaner, more agile and asset-light organization. By challenging established ways of working, simplifying operations and acting decisively, we are strengthening competitiveness and profitability in the longer-term. Significant work remains, but I am confident we are moving in the right direction.

When consumer sentiment recovers, particularly in Europe, we will be well positioned to capture growth and improve earnings.

Glen Instone, CEO

Webcast presentation and telephone conference

A webcast presentation of the Q3 report hosted by Glen Instone, CEO and Patrik Johnson, CFO will be held at 9:00 CEST on Oct 21, 2026.
To view the presentation, please use this link.
The dial-in to the telephone conference (to ask questions):
+46 (0) 8 505 100 31 (Sweden) or +44 203 059 58 63 (UK)

Contact
Emelie Alm, Vice President, Investor Relations
+46 70 514 64 14

Husqvarna AB (publ), P.O. Box 7454, SE-103 92 Stockholm
Hälsingegatan 49, +46 8 738 90 00, www.husqvarnagroup.com

Reg. Nr: 556000-5331

(NASDAQ STOCKHOLM: HUSQ-A) (NASDAQ STOCKHOLM: HUSQ-B)

This report contains insider information that Husqvarna AB is required to disclose under the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above, at 07:00 CEST on Oct 21, 2026.

Factors affecting forward-looking statements

This report contains some forward-looking statements. These statements are subject to risks and uncertainties that may give rise to major deviations in the result due to several aspects. These aspects include, among other things: consumer demand and market conditions in the geographical areas and lines of business in which Husqvarna operates, the effects of currency fluctuations, downward pressure on prices due to competition, success in developing new products, outcome of product responsibility litigation and progress in terms of reaching the goals set for productivity and efficient use of capital.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/husqvarna-group/r/interim-report-january—september-2026,c4412543

The following files are available for download:

https://mb.cision.com/Main/996/4412543/4328797.pdf

Interim report Q3 2026 Husqvarna Group

 

View original content:https://www.prnewswire.com/news-releases/husqvarna-group-interim-report-january–september-2026-302915009.html

SOURCE Husqvarna Group

Continue Reading

Trending