Kubota Revises Year-End Forecast Upward

Kubota has increased its forecast for year-end revenues and credits stronger-than-expected sales of farm equipment and light construction for driving the increase.

The Farm & Industrial Machinery division recorded a 10 percent increase for the first nine months of the year. In response, Kubota raised its full-year forecast by just over 1 percent, which is about a $176 million increase.

In North America, sales of compact tractors, construction machinery and engines grew due to expanded demand, in addition to the positive effect from favorable exchange rates and the contribution from Association member company Great Plains, which Kubota acquired in 2016.

For the three months ended September 30, sales of farm equipment and engines were up by 8 percent. Domestic sales rose 5.6 percent, while overseas sales increased by 8.7 percent.

Source: Ag Equipment Intelligence