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New York Markets After Hours

Oct. 22, 2020, 3:24 p.m. EDT

Emotional analyst says company’s results nearly bring tear to his eye

By Steve Goldstein

It’s that time of year — not only when companies report earnings, but when sell-side analysts try to get in management’s good graces with effusive praise.

One analyst went a little further than the usual, “great quarter, guys” comment on an analyst call.

Husqvarna (OME:SE:HUSQ.B) , the Swedish maker of chain saws and other outdoor equipment, this week reported 10.4% margins in the third quarter after sales jumped 22%.

Christer Magnergård, an analyst at DNB Markets, said the results made him, well, quite frankly, emotional.

“Congratulations for the above 10% margins. I’ve been covering this company for so long, so I’m almost — so almost a tear in my eyes to see it,” he said.

Henric Andersson, the group’s chief executive, nearly blushed. “Thank you for your kind words. We are also, of course, very proud of the 10% here,” he said.

Husqvarna shares have climbed 36% this year.

Link to MarketWatch's Slice.