Kubota 9-month Earnings Decline; Stock Up
Kubota Corp. reported a decline in profit for the nine months ending September 30, with profit attributable to owners decreasing to 141.96 billion yen from 197.92 billion yen the previous year. Basic earnings per share fell to 124.10 yen, while operating profit dropped to 214.69 billion yen. Revenue also declined to 2.20 trillion yen. Despite the earnings drop, Kubota's stock rose 3.93% to JPY 2,060 on the Tokyo Stock Exchange.
Kubota Corp. (KUBTY, KUBTF,6326.T), a Japanese manufacturer of agricultural machines, on Friday reported its profit attributable to owners of the parent decreased in the nine months compared with the previous year.
For the nine months ended September 30, profit attributable to owners of the parent decreased to 141.96 billion yen from 197.92 billion yen in the prior year.
Basic earnings per share were 124.10 yen versus 169 yen last year.
On average, three analysts had expected the company to report $31.44 per share. Analysts' estimates typically exclude special items.
Operating profit decreased to 214.69 billion yen from 275.38 billion yen in the prior year.
Revenue declined to 2.20 trillion yen from 2.28 trillion yen in the previous year.
Kubota Corp is currently trading, 3.93% higher at JPY 2,060 on the Tokyo Stock Exchange.
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