Wacker Neuson Q3 Revenue Off 17% vs. 2019

Nov. 5, 2020

Wacker Neuson third-quarter revenue was down 16.5 percent compared to the same period in 2019. Total revenue was approximately $461 million for the quarter, down from about $553 million. Revenue for the first nine months of the company’s fiscal year is off 16.4 percent to about $1.4 billion

“We again experienced a significant decline in revenue in the third quarter related to the coronavirus pandemic, albeit less pronounced than in the second quarter,” said Martin Lehner, CEO, in a prepared statement. “However, we are also seeing positive changes in our industry that have been triggered or accelerated by the shift in circumstances. Through the crisis, our customers have become much more open to the possibilities of digitalization and electromobility in particular.”

Revenue from the Americas decreased 43.1 percent in the third quarter, to $78 million from $137 million, 38.8 percent when adjusted for currency effects. The company cited low demand from dealers, key accounts, and rental chains.

Source: Wacker Neuson