Kubota Reports Six Month Results

For the six months ended June 30, 2022, revenue of Kubota Corporation and its subsidiaries increased by $1.2 billion (+14.4%) from the same period in the prior year to $9.3 billion. Operating profit decreased by 18% mainly due to some negative effects from a rise in material prices and logistics expenses, despite some positive effects from sales price increase and favorable impact of foreign exchange rates. 

Farm & Industrial Machinery – Revenue in this segment increased by 16.5% from the same period in the prior year and accounted for 87% of consolidated revenue. In North America, shipment of tractors made progress to resolve back orders and replenish dealer inventories, and sales of construction machinery were solid due to demand for infrastructure construction. In Europe, sales mainly of construction machinery and engines increased due to the stable market. 

Operating profit in this segment decreased by 18.5% from the same period in the prior year due to some negative effects from a rise in material prices and logistics expenses, while there were some positive effects from sales price increase and favorable impact of foreign exchange rates. 

Source: Company release