Industrial technology seller Hurco's Q3 sales rise 7%

Reuters
Sep 05
Industrial technology seller Hurco's Q3 sales rise 7%

Overview

  • Hurco fiscal Q3 sales rise 7% yr/yr, driven by growth in Americas, Asia Pacific

  • Net loss narrows to $3.7 mln from $9.6 mln in prior year

  • Orders fall 22% amid cautious capital purchase decisions, reflecting macroeconomic uncertainty

Outlook

  • Hurco optimistic about future profitability with strong cash position and tech investments

Result Drivers

  • AMERICAS GROWTH - Sales in the Americas rose 10% due to increased shipments of Hurco and Milltronics machines

  • ASIA PACIFIC EXPANSION - Sales in Asia Pacific surged 48%, driven by higher sales of Takumi machines

  • EUROPEAN STAGNATION - European sales remained flat, with favorable currency impacts offset by decreased shipments in France and Germany

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Income

-$3.69 mln

Q3 Capex

$932,000

Q3 Gross Profit

$9.11 mln

Q3 Operating Income

-$1.65 mln

Q3 Pretax Profit

-$3.13 mln

Press Release: ID:nGNX6ZG3HJ

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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