Second quarter revenue was about $551 million for Wacker Neuson, up 11.5 percent over the same period in 2021.
Supply chain strains and high costs for materials, energy, and shipping dragged down profits by 8.3 percent for the quarter. Profit for the second quarter was about $38 million, down from about $41 million in Q2 2021.
Revenue for the Americas rose 16.8 percent after adjusteing for currency effects, to about $200 million.
Customer demand remains strong, according to the company. “Order intake was already at a very high level in the first quarter and this positive momentum accelerated even further in the second quarter,” said CEO Dr. Karl Tragl in a prepared statement. “We thus have an order backlog extending well beyond the current fiscal year. However, there are still no signs of improvement in the supply situation, and material, energy and shipping costs remain high – all of which has a negative impact on our profitability.
“On the other hand,” he said, “we do expect our price increases to have a positive impact on gross margin from the third quarter onwards.”
Source: Wacker Neuson Group
