Buhler Industries Reports $42 Million in 1Q23 Revenue

May 18, 2023

Buhler Industries has reported its revenue for the first quarter of 2023 was $41.6 million, up $0.6 million from the comparable quarter in the prior year. Supply chain issues continue to hamper sales growth, and the company continues to have a large backlog.

Net income of $3.1 million for the quarter was higher by $2.8 million compared to the result in the prior year's first quarter. Contributing to the increase in profit this quarter was an increase on the gain on disposal of assets primarily held for sale of $5.9 million. This was offset by a reduction in income from operations of $1.9 million, an increase in interest expense of $0.5 million, a decrease in the gain from foreign exchange of $0.5 million and an increase in spending on research and development of $0.5 million.

Increased sales are projected for 2023 as the Company continues to work through supply chain challenges. The Company has a large backlog of sales and continues to have strong demand for agricultural machinery and equipment. The Company will be recognizing the results of the sale of its Vegreville facility and the sale-leaseback of its Woodstock facility in the second quarter.

Source : Farm Equipment

Video: A Farm Song (Busy) | Parody of A Bar Song (Tipsy) by Shaboozey

Lyrics:

My days begin with workin’, Alarm’s at 5 o’clock,
I Fill 5 gallon buckets, The feeders and the troughs,
This five to nine ain’t workin’, why the heck do I work so hard?,
I can’t worry ‘bout health problems, I can sleep in when I’m gone,

One, here comes the two to the three to the four,
Tell em’ ‘buy another cow, we need plenty more’,
Blue jeans are gettin’ dirty, what else could I ask for,
Oh my, more chores

Someone pour me up another shot of sweet tea,
They know me and working hard’s got a history,
There’s another flock of sheep that still needs feed,
Everybody on the farm gettin’ busy,

Everybody on the farm gettin’ busy,
Everybody on the farm gettin’ busy,

I’ve been working pretty stressed but,
I ain’t changing for some cash,
Lord knows that I’m very blessed (More chores),
But I gotta say it’s hard,
Workin’ outside gettin’ charred,
Living out here on the farm, (more chores)

One, here comes the two to the three to the four,
Tell em’ ‘buy another cow, we need plenty more’,
Blue jeans are gettin’ dirty, what else could I ask for,
Oh my, more chores

Someone pour me up another shot of sweet tea,
They know me and working hard’s got a history
There’s another 20 chickens that still need feed,
Everybody on the farm gettin’ busy,

Everybody on the farm getting’ busy,
Everybody on the farm gettin’ busy,

Fun, here on ranch that’s what you can’t ignore,
Might be pretty hard but I love it to its core,
Flannel’s gettin’ dirty, what else could I ask for,
Oh my, more chores (Tell ‘em sing with me)

Someone pour me up another shot of sweet tea,
They know me and working hard’s got a history,
There’s another flock of sheep that still needs feed,
Everybody on the farm gettin’ busy,
Someone pour me up another shot of sweet tea,
They know me and working hard’s got a history,
Watching cattle in the dark, don’t miss me,
Everybody on the farm gettin’ busy,
(Yeeeeeehaw)
Everybody on the farm gettin’ busy,
Everybody on the farm gettin’ busy,
It’s the best bro, go get yourself a farm