Mr. Willy Janzen reports
BUHLER INDUSTRIES REPORTS 2ND QUARTER EARNINGS
Buhler Industries Inc. has released its second quarter 2024 results.
Sales
Revenue for the quarter was up 15.9 per cent, coming in at $78.3-million, compared with $67.6-million in the prior-year second quarter. Revenue for the first six months of 2024 was $149.4-million, up $25.8-million from 2023. The company has been successful in improving its supply chain issues and continues to enjoy strong demand for its products.
Net income for the quarter
Net income for the second quarter was $7.2-million, compared with a net income of $16.1-million for the same period in 2023. For the year to date, net income was $5.1-million, compared with a net income of $20.2-million for the similar period in 2023.
Looking forward
Sales for the remainder of the year are projected to be higher in 2024 as the company continues to improve problems associated with supply chain issues. The company's majority shares were acquired by Asko Sinai, a wholly owned subsidiary of Asko Holding, on Dec. 28, 2023, and continues to receive full support from Asko Sinai to achieve its sales growth and return to profitability. Margins are projected to improve in 2024 over 2023 as a result of operating efficiencies stemming from increased shipments and cost reductions taken during the year.
Complete financial statements are available on the company's website.
We seek Safe Harbor.
© 2025 Canjex Publishing Ltd. All rights reserved.