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National & World Ag News Headlines |
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Kubota Reports Higher Sales, But Lower Net Income
USAgNet - 11/12/2018
Overseas sales drove much of Kubota Corp.’s increased revenues in the third quarter and first 9 months of 2018, ended Sept. 30. Overall, the company reported on Nov. 6 that revenues in the third quarter were $4.03 billion, up 8.2% vs. the same period last
year. For the first 9 months of year, revenues rose by 7.4%, to $12 billion.
Through the first 9 months of the year, domestic revenue increased 1.8%, to $3.72 billion. Kubota says this the result of increased revenue in Farm & Industrial Machinery, which compensated for lower revenue in Water & Environment. Overseas revenue
increased 10.1% from the same period in the prior year to $8.3 billion. Revenue in Farm & Industrial Machinery increased due to strong sales of construction machinery and tractors.
Operating profit decreased 0.5% from the same period in the prior year. This decrease was mainly due to the negative effects from an increase in fixed costs and a rise in material prices, while there were some positive effects, such as increased sales in the
domestic and overseas markets and the yen depreciation against the Euro.
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