Hurco Companies, Inc. reported a notable improvement in its financial performance for the third quarter and first nine months of fiscal year 2026, as detailed in its recent 10-Q filing. For the three months ended July 31, 2026, the company generated sales and service fees of $47.3 million, a 3% increase from $45.8 million in the same period last year. The gross profit for the quarter rose to $13.2 million, representing 28% of sales, compared to $9.1 million, or 20% of sales, in the prior year. The net income for the quarter was $2.3 million, a significant turnaround from a net loss of $3.7 million in the same quarter of 2025.

In the nine-month period ending July 31, 2026, Hurco's sales and service fees increased by 4% to $137.8 million, up from $133.1 million in the previous year. The gross profit for this period also improved to $31.5 million, or 23% of sales, compared to $25.2 million, or 19% of sales, in the prior year. The company reported a reduced operating loss of $1.7 million for the nine months, compared to a loss of $6.8 million in the same period last year. This improvement is attributed to increased shipments of higher-performance machines and price increases implemented earlier in the fiscal year.

Operationally, Hurco has seen a significant increase in orders, with total orders for the third quarter reaching $51.4 million, a 25% increase compared to the same period last year. The Americas region experienced a 37% increase in orders, driven by demand for Hurco's 5-axis and larger vertical milling machines. The company also reported a 51% increase in orders from the Asia Pacific region. However, European orders saw a modest increase of 6%, reflecting mixed demand across different markets.

The company continues to focus on strategic initiatives, including investments in new technologies and product development. Hurco's cash and cash equivalents stood at $52.1 million as of July 31, 2026, an increase from $48.7 million at the end of the previous fiscal year. The company has suspended its regular quarterly cash dividend to enhance financial flexibility and support its growth strategies. Looking ahead, Hurco remains committed to managing through market volatility while pursuing opportunities for expansion and innovation in the CNC machine tool industry.

About HURCO COMPANIES INC

Hurco Companies, Inc. designs, manufactures, and sells CNC machine tools, including vertical and turning centers, for the metal cutting industry. Its products feature proprietary control systems and software that enhance productivity, accuracy, and ease of operation. Serving global markets across aerospace, automotive, medical, and energy sectors, Hurco emphasizes innovation, automation, and customer support to maintain competitive advantage in a cyclical industry.

This description was generated via AI from an annual report. Updated about 1 year ago.

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