(TSX: BUI)
WINNIPEG, MB, Nov. 15,
2023 /CNW/ -
Sales
Revenue for the quarter was $60.1,
down $5.2 from the comparable quarter
in the prior year. Revenue for the first nine months of 2023 was
$183.7 million, up $5.4 compared to the nine months ending
September 30, 2022. The Company
obtained higher sales as it resolved some of the supply chain
problems encountered in the last three years.
|
3rd
quarter ending
|
|
|
|
|
9 months
ending
|
|
|
|
September 30,
2023
|
|
|
Year Ago
|
|
September 30,
2023
|
|
Year Ago
|
|
Revenue
(millions)
|
|
$60.1
|
|
$65.3
|
|
Revenues
(millions)
|
$183.7
|
$178.3
|
|
Net income
(millions)
|
|
$(1.4)
|
|
$(2.5)
|
|
Net income
(millions)
|
$18.8
|
$(1.1)
|
|
Net
income/share
|
|
$(0.06)
|
|
$(0.10)
|
|
Net
income/share
|
$0.75
|
$(0.04)
|
|
Shares issued
(millions)
|
|
25.0
|
|
25.0
|
|
Shares Issued
(millions)
|
25.0
|
25.0
|
Net Income for the Quarter
Net loss for the third quarter was $1.4, compared to a net loss of $2.5 for the same period in 2022. For the nine
months ending September 30, 2023, the
net income was $18.8, compared to the
net loss of $1.1 for the similar
period in 2022.
Looking Forward
In July, the Company announced that it had engaged the services
of Toronto-based Origin Merchant
Partners to identify a long-term investment partner. The Company
continues to work with Origin Merchant Partners and has advanced
this process. In contemplation of the progress that the Company has
made in identifying a long-term investment partner, the Company's
lenders extended the maturity date of its credit facility from
October 31, 2023 to December 4, 2023 to allow the Company to conclude
the process with Origin Merchant Partners. The Company intends to
provide a further update on this process on or before the new
maturity date of its credit facilities. The Company has a large
backlog of sales and continues to have strong demand for
agricultural machinery and equipment. Revenue for 2023 is projected
to be flat when compared to 2022 as the Company continues to work
through supply chain challenges.
Complete financial
statement: https://www.buhlerindustries.com/pages/investors.php
Trading symbol: BUI
SOURCE Buhler Industries Inc.