Revenue at Kubota increased by nearly 19 percent in 2021 compared to 2020. This includes year-over-year increases in North American revenue and ag equipment sales, bouncing back from slight decreases seen in 2020.
North American sales increased by 27 percent—a record high for the last 10 years. The company’s revenue in North America has risen every year for the past 10, it said, excluding a 5 percent decline in 2020.
The percentage of Kubota’s annual revenue coming from the North America region has also risen every year for the past 10, aside from a slight decline in 2020. In 2021, the percentage of revenue from North America reached a 10-year high of 37.3. The same market in 2020 represented 34.9 percent of Kubota’s business.
The company’s farm equipment and engines segment increased by 21 percent in 2021. The percentage of Kubota’s annual revenue coming from ag equipment and engine sales also has risen since 2012 from 61.5 a decade ago to 67.1 percent in 2021. Year-to-year comparisons in that category reveal a more up-and-down pattern.
The company forecasts a 12 percent increase in annual revenue in 2022.
In an earnings call, executive vice president Masato Yoshikawa said the company, in cooperation with dealers, plans a 6 percent increase in the price of tractors in North America and 5 percent in construction machinery.