Buhler Industries Reports 1st Quarter Earnings

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Buhler Industries Reports 1st Quarter Earnings

Canada NewsWire

(TSX:BUI)

WINNIPEG, Feb. 14, 2020 /CNW/ -

Sales
Revenue for the quarter was $49.2 million, down from $57.3 million in the first quarter of 2019. The Company's lower sales levels are as a result of trade uncertainties, bad harvest conditions and poor crop yields coupled with low commodity process. Sales to Canada and Eastern Europe are below historical levels, while the U.S. has seen a return to historical levels of first quarter sales.

1st quarter ending December 31, 2019





Year Ago

Revenue (millions)


$49.2


$57.3

Net loss (millions)


($5.5)


($4.4)

Net loss/share


($0.22)


($0.18)

Shares issued (millions)


25.0


25.0






 

Net Loss for the Quarter 
The net loss for the quarter was $5.5 million, compared with $4.4 million for the same period in 2019. The decline in income from operations due to the decreased margin and gain on disposal of assets was offset by decreased interest expense and research and development costs as well as increases in gain on foreign exchange.

Looking Forward
The economic conditions including lower commodity prices and trade uncertainties continued into the first quarter. Results of the poor harvest in many areas of North America continue to dampen demand for large farm equipment. Sales levels and margins are expected to decline slightly from the prior year and this decline will be somewhat offset by increased demand for the new mid-range front-wheel assist Versatile and Kubota tractors.

Complete financial statement: http://www.buhlerindustries.com/investors/buhler-2020-q1.pdf

Trading symbol: BUI

SOURCE Buhler Industries Inc.

View original content: http://www.newswire.ca/en/releases/archive/February2020/14/c7913.html

Copyright CNW Group 2020

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).