Buhler Reports Near-Record First-Quarter Revenues

Buhler Industries reported revenues for the quarter ending Dec. 31, 2013, at $68.9 million, surpassed only by its record first quarter in 2011 and the $75.9 million it reported for 2012. The company says demand continues to be strong for its tractors, seeding and tillage equipment.

Net earnings for the first quarter were $4.7 million, up $1.4 million from the previous first quarter. This was primarily due to improved profit margins and a gain on foreign exchange, offset by increased research and development expenditures.

The company expects to maintain it’s 2013 sales level in 2014. Export sales are expected to grow, partially due to a weaker Canadian dollar, and also because the company plans to actively pursue new markets, according to the first-quarter report. New Versatile products, such as the DeltaTrack and updated row crop front-wheel assist tractors introduced last year, are gaining momentum into 2014. In addition, the new line of Farm King liquid fertilizer applicators is rapidly gaining market acceptance. Offsetting the sales growth above are higher levels of tractor inventory at dealerships, combined with lower crop prices resulting from high crop yields.

The company expects cash flow to improve throughout the remainder of the year as inventory levels decline. It is working on increased financing to be put in place in 2014, as it continues to plan for its future growth.

Buhler has been an Association member since 1972; buhlerindustries.com.