BUHLER INDUSTRIES REPORTS 2ND QUARTER EARNINGS

WINNIPEG, MB, Aug. 14, 2023 /CNW/ - (TSX: BUI) 

Sales

Revenue for the quarter was $67.6, up $9.8 from the comparable quarter in the prior year. Revenue for the first six months of 2023 was $123.6 million, up $10.6 compared to the six months ending June 30, 2022. The Company achieved higher sales as it begins to see improvements in the supply chain issues experienced over the last two years.

2nd quarter ending						6 months ending
June 30, 2023				Year Ago		June 30, 2023		Year Ago
Revenue (millions)		$67.6		$57.8		Revenues (millions)	$123.6	$113.0
Net income (millions)		$16.1		$1.1		Net income (millions)	$20.2	$1.4
Net income/share		$0.64		$0.04		Net income/share	$0.81	$0.06
Shares issued (millions)		25.0		25.0		Shares Issued (millions)	25.0	25.0

Net Income for the Quarter 

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

Looking Forward

The Company 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.  In July, the Company announced that it has engaged the services of Toronto-based Origin Merchant Partners to identify a long-term investment partner. This collaboration represents a significant step forward for the company as it seeks to bolster its position in the agricultural industry and continue its commitment to serving farmers and dealers with high quality farm equipment.  

Complete financial statement: https://www.buhlerindustries.com/pages/investors.php

Trading symbol: BUI

SOURCE Buhler Industries Inc.

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