Kubota’s revenues increased by 7.1 percent for the first 9 months of 2019 compared to the same period last year.
Domestic revenue for the Japan-based company increased by 13.7 percent, which Kubota attributed to a rise in revenue in its farm and industrial machinery segment. Overseas revenue increased by 4.1 percent.
In the farm and industrial machinery segment, revenue increased by 6.5 percent overall. Domestic revenue rose by 12.2 percent while overseas revenue saw a 5 percent bump.
Kubota revised its forecasts for revenue for the year downward from its February forecast. The company anticipates the decline as a result of stagnating demand in China and inclement weather elsewhere.
Source: Ag Equipment Intelligence