Hurco swings to Q3 profit as machine sales volumes rise
Hurco swings to Q3 profit as machine sales volumes rise
Overview
U.S. CNC machine tool maker's fiscal Q3 revenue rose 3% yr/yr
Company returned to profitability in fiscal Q3 after prior-year loss
Gross margin expanded to 28% from 20%, driven by cost control and improved product mix
Outlook
Company plans to introduce next-generation proprietary control technology at IMTS in September
Hurco says business direction has turned and intends to build on recent momentum
Result Drivers
COST CONTROL - Co said margin expansion was primarily due to measured cost control and improved absorption of fixed overhead
PRODUCT MIX - Co cited higher machine sales volumes in the U.S. and Asia Pacific and a stronger mix of 5-axis and higher-performance machine sales globally
TARIFF REFUNDS - Co said tariff refunds contributed to profitability, but business fundamentals were the larger contributor
Company press release: ID:nGNX9CLplJ
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Net Income |
| $2.31 mln |
|
Q3 Gross Margin |
| 28.00% |
|
Q3 Capex |
| $1.03 mln |
|
Q3 Gross Profit |
| $13.18 mln |
|
Q3 Operating Income |
| $2.29 mln |
|
Q3 Pretax Profit |
| $2.75 mln |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)