In it 2Q23 earnings released on Aug. 14, Buhler Industries reported revenue for the quarter was $49.9 million, up $7.2 million from the comparable quarter in the prior year. Revenue for the first six months of 2023 was $91.2 million, up $7.8 million compared to the 6 months ending June 30, 2022. Buhler Industries stated it achieved higher sales as it begins to see improvements in the supply chain issues experienced over the last two years.
Net income for the second quarter was $11.9 million, compared to net income of $810,000 for the same period in 2022. For the 6 months ending June 30, 2023, the net income was $14.9 million, compared to the net income of $1 million for the similar period in 2022.
The Company said it has a large backlog of sales and continues to have strong demand for agricultural machinery and equipment. Increased sales are projected for 2023 as the Company continues to work through supply chain challenges.
Read More: Buhler Industries Reports $50 Million in 2Q23 Revenue