Doosan Bobcat (241560) Q3 2024 earnings summary
Event summary combining transcript, slides, and related documents.
Q3 2024 earnings summary
24 Jun, 2026Executive summary
Revenue declined 28% year-over-year in Q3 2024, driven by external uncertainties and dealer inventory adjustments.
EBIT fell 59% and net profit dropped 67% year-over-year, reflecting lower operating profit and fixed cost burdens.
Operates as a global holding company with subsidiaries in North America, EMEA, and ALAO, focusing on compact construction equipment, portable power, and material handling products.
Achieved $4.74B in sales for the first nine months of 2024, with compact equipment accounting for 78.1% of revenue.
Maintains a robust dealer network and invests in R&D for product innovation and market expansion.
Financial highlights
Q3 2024 revenue: $1,306M, down 27.6% YoY and 19.9% sequentially.
EBIT: $92M, down 59.4% YoY; EBITDA: $137M, down 48.4% YoY.
Net profit: $47M, down 67.4% YoY; net margin fell to 3.6%.
Revenue for 2024 Q3 YTD: $4,737M, down from $7,476M in 2023 YTD.
Net income attributable to shareholders: $324M (2024 Q3 YTD) vs. $706M (2023 YTD).
Outlook and guidance
Q4 2024 is expected to be similar to Q3, with continued weak demand and dealer inventory adjustments.
Weaker demand in North America and EMEA anticipated to persist; some growth expected in Oceania and Latin America.
Continues to expand product lines and dealer networks, especially in North America and Europe.
Ongoing investments in R&D and capacity, with planned capital expenditures of $376.7M in 2024, $336.1M in 2025, and $266.6M in 2026.
Expects continued growth in compact equipment and material handling, leveraging new product launches and market expansion.
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