Quarterly Earnings | 婷婷激情五月天 Our Members Bring Choice, Value & Innovation to Agriculture Fri, 25 Aug 2023 17:25:48 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.4 /wp-content/uploads/2023/09/fema-favicon-75x75.png Quarterly Earnings | 婷婷激情五月天 32 32 Buhler Reports Quarterly Earnings /news/buhler-reports-quarterly-earnings/ Thu, 24 Aug 2023 15:33:17 +0000 /?p=24709 In it 2Q23 earnings released on Aug. 14, Buhler Industries reported revenue for the quarter was $67.6 million, up $9.8 million from the comparable quarter in the prior year. Revenue for the first six months of 2023 was $123.6 million, up $10.6 million compared to the 6 months ending June 30, 2022. Buhler Industries stated it achieved higher sales as it begins to see improvements in the supply chain issues experienced over the last two years.

Net income for the second quarter was $16.1 million, compared to net income of $1.1 million for the same period in 2022. For the 6 months ending June 30, 2023, the net income was $20.2 million, compared to the net income of $1.4 million for the similar period in 2022.

The Company said it has a large backlog of sales and continues to have strong demand for agricultural machinery and equipment. Increased sales are projected for 2023 as the Company continues to work through supply chain challenges.

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]]> AGCO Reports Record Q3 Results /news/agco-reports-record-q3-results/ Tue, 08 Nov 2022 19:27:49 +0000 /?p=20174 AGCO reported its results for the third quarter ended Sept. 30, 2022. Net sales for the third quarter were approximately $3.1 billion, an increase of approximately 14.5% compared to the third quarter of 2021. North America, sales increased as well to 43%.

Global industry production and retail sales were down modestly in the first nine months of 2022 compared to last year’s elevated levels due primarily to supply chain limitations. Industry retail sales for tractors in North America were down approximately 6% in the first nine months of 2022 compared to last year. The decline was driven by weaker sales in smaller tractors partially offset by improved sales of high horsepower tractors, which increased approximately 8% in the first nine months of 2022 compared to the same period in 2021.

鈥淲e delivered record third quarter sales and earnings driven through the consistent execution of our farmer-first strategy, coupled with continued robust market conditions in many of our regions,鈥 stated Eric Hansotia, AGCO鈥檚 Chairman, President and Chief Executive Officer. 鈥淥ur solid operational performance and continued strong pricing overcame ongoing supply chain challenges, inflationary pressures and significant currency headwinds. Healthy farm fundamentals are supporting order boards that now stretch well into 2023 in some regions.

He continued, 鈥淕lobal market conditions remain positive as favorable farm economics are allowing farmers to upgrade and replace their aging fleets. At the same time, our smart technology product lines are in strong demand and are helping to drive meaningful productivity improvements for our customers through both retrofitting their current equipment and in our new product offerings.鈥

Outlook

The ability of the Company鈥檚 supply chain to deliver parts and components on schedule remains difficult to predict. The following outlook is based on AGCO鈥檚 current estimates of component deliveries. AGCO鈥檚 results will be impacted if the actual supply chain delivery performance differs from these estimates.

  • Net sales for 2022 ranging from $12.5 to $12.6 billion
  • Gross and operating margins are projected to improve from 2021 levels, reflecting the impact of higher sales and production volumes as well as favorable pricing to offset material and labor cost inflation
  • Increased investments in engineering and other technology investments to support AGCO鈥檚 precision ag and digital initiatives
  • Full year adjusted earnings per share of $11.70 to $11.90

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