BUHLER INDUSTRIES REPORTS 2ND QUARTER EARNINGS

BUHLER INDUSTRIES REPORTS 2ND QUARTER EARNINGS

Canada NewsWire

WINNIPEG, MB, Aug. 12, 2022 /CNW/ - (TSX: BUI)

Sales

Revenue for the quarter was $57.8, down $21.4 from the comparable quarter in the prior year. Revenue for the first six months of 2022 was $113.0 million, down $30.7 compared to the six months ending June 30, 2021. The Company's decrease in sales levels is the result of supply chain issues experienced during the quarter and not a result from the lack of demand as it remains very high.

2nd quarter ending   





6 months ending 



June 30, 2022



Year Ago


June 30, 2022


Year Ago









Revenue (millions)


$57.8


$79.2


Revenues (millions)

$113.0

$143.7










Net income (millions)


$1.1


$3.8


Net income (millions)

$1.4

$4.2










Net income/share


$0.04


$0.15


Net income/share

$0.06

$0.17










Shares issued (millions)


25.0


25.0


Shares Issued (millions)

25.0

25.0

 
Net Income for the Quarter 

Net income for the second quarter was $1.1, compared to net income of $3.8 for the same period in 2021. For the six months ending June 30, 2022, the net income was $1.4, compared to the net income of $4.2 for the similar period in 2021.

Looking Forward

Sales are expected to grow as the Company resolves supply chain issues, which will also reduce Inventory.  The sales backlog remains very high.  In the past year, the Company restructured its manufacturing capacity and made changes to reduce the overall cost of operations. The restructuring coupled with improved shipments will increase the profitability of the Company.

Complete financial statement: https://www.buhlerindustries.com/pages/investors.php

Trading symbol: BUI

SOURCE Buhler Industries Inc.

Cision View original content: http://www.newswire.ca/en/releases/archive/August2022/12/c1207.html

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