The company said sales backlog remains high and supply chain challenges persist, including the unavailability of raw materials as the company seeks to accelerate production.

Source: Buhler Industries | Member since 1972 |

Demand for products remains strong and the Company is working to increase production for the remainder of the year to meet the growing order backlog.

Forward Looking: The Company achieved third quarter sales growth of 3.3% coming in at $79.2 and continues to project sales growth in 2021. Sales backlog remains high as the Company is working through supply chain challenges including raw material availability in ramping up production. In the past year, the Company restructured its manufacturing capacity and made changes to reduce the overall cost of operations. The results of these changes are showing up in increased margins and while visible in 2021, the full impact of these cost reductions will be realized in 2022. As a result of a policy change made this year, the Company will be extending its year end to December 31 which is a change from the September 30 year end and will show its year end result for a fifteen month period versus last year’s twelve month period.

Complete financial statement:
SOURCE Buhler Industries Inc.

A news release from Buhler said “projections for 2021 continue to be favorable as sales are expected to continue to grow during the year. The backlog has increased as order activity has strengthened.”

The company went on to day that a restructuring in its manufacturing capacity and changes to reduce the cost of operations will begin producing results this year with the full impact of savings realized in 2022.

Buhler reported a net loss for the quarter, which ended Dec. 31, but it was 44 percent less than the loss recorded for the same quarter last year. The reduced loss is the result of a higher gross margin from sales, forgiveness of debt through a loan forgiveness program, and gain on foreign exchange.

Those improvements were offset by an increase in spending on research and development.

The company attributed the increase to dealers reducing field inventory in the previous year, strong harvest conditions, and crop yields.

Total revenue was $249.6 million for the year ended Sept. 30.

The company reported a $25.8 million net loss for the year, which was an improvement over the $29.5 million net loss in 2019.

鈥淚n the current year, the company continued cost saving measures from the previous year that have resulted in continued improvements to gross margin and reductions in the loss from operations,鈥� it said. 鈥淭he company was able to reduce interest expense by managing to reduce its inventory and accounts receivable. In addition, the company reduced its R&D expenses during the period.鈥�

Buhler鈥檚 projections for 2021 are favorable. It expects sales to continue to grow, in part because it has seen an increase in its backlog and order activity.

It also expects to see continued gains as a result of revising manufacturing capacity and reducing its overall footprint and cost of operations.

Member since 1972 |

Revenue increased by 19.5 percent for the quarter ended June 30. Revenue for the first nine months rose by 3.4 percent. Net profit for the quarter was $500,000 compared to a $1.2 million net loss in 2019. For the first nine months of 2020, Buhler reported a $13.5 million net loss. Last year, the first nine months saw a $1.4 million net profit.

News in the U.S. was good. The company experienced a 37 percent increase in sales for the first nine months of this year.

Based on an analysis of trends in agriculture and manufacturing, Buhler intends to increase production at its plant in Willmar, Minn. A news release said the move is 鈥渢he result of unpredictability in the agriculture commodities market and fluctuations in the exchange rate, as dealers in Canada market several U.S. based Farm King-branded products.

Buhler said this will improve efficiency and reduce overhead costs at the Willmar factory, which manufactures products under the Farm King brand.
Products built at the Fargo, N.D., operation are being relocated to Willmar. Production in Fargo will cease Sept. 30.

Source: Buhler | Member since 1972 |

Product lines currently manufactured at Buhler鈥檚 facility in Fargo, N.D., will move to the Willmar factory over the summer. Production will cease in Fargo on Sept. 30.

The company said the move is the result of unpredictability in the agriculture commodities market and fluctuations in the exchange rate.

Buhler also operates manufacturing facilities in the U.S. and Canada.

Member since 1972 |