earnings
confidence high
sentiment negative
materiality 0.80
Hurco Q3 net loss $9.6M as sales drop 20%; orders rise 26% YoY
HURCO COMPANIES INC
2024-Q3 EPS reported
-$2.33
revenue$132,882,000
- Net loss of $9,596,000 ($1.47 diluted EPS) vs net income of $260,000 ($0.04) in Q3 2023.
- Sales and service fees $42,651,000, down 20% YoY; Americas -16%, Europe -23%, Asia Pacific -15%.
- Global orders $52,815,000, up 26% YoY; orders outpaced sales by over $10M.
- Recorded $8,158,000 non-cash tax valuation allowance on U.S. deferred tax assets.
- Gross profit margin fell to 18% vs 25% prior year; cost reductions implemented in Q3.