+
Komatsu’s sales soar 18% in Q1 2022
Equipment

Komatsu’s sales soar 18% in Q1 2022

Komatsu has announced earnings from the first quarter of its April-March fiscal year 2022, reporting an 18% increase in net sales compared to the same period last year, to $5.7 billion. Construction, mining and utility equipment accounted for $5.3 billion of the company’s sales for the three months ending June 30, a 20% increase from the first quarter of 2021.

North American sales increased by 49% during the first quarter. Komatsu attributed the gains to strong growth in the residential and nonresidential construction segments, as well as road and traffic infrastructure segments.

Sales also expanded sharply in Asia (40%) and Latin America (26%), propping up declines in Eastern Europe and Asia, China and Oceania (Australasia, Melanesia, Micronesia and Polynesia). Sales were supported by an increased volume of sales, the positive effects of foreign exchange rates and improved selling prices.

Looking forward, Komatsu has not changed its projection for its full-year results for the rest of the fiscal year, which ends March 31, 2023. Overall, demand will remain flat from fiscal year 2021. The company used the earnings call to reflect on several highlights from the quarter.

Komatsu has announced earnings from the first quarter of its April-March fiscal year 2022, reporting an 18% increase in net sales compared to the same period last year, to $5.7 billion. Construction, mining and utility equipment accounted for $5.3 billion of the company’s sales for the three months ending June 30, a 20% increase from the first quarter of 2021. North American sales increased by 49% during the first quarter. Komatsu attributed the gains to strong growth in the residential and nonresidential construction segments, as well as road and traffic infrastructure segments. Sales also expanded sharply in Asia (40%) and Latin America (26%), propping up declines in Eastern Europe and Asia, China and Oceania (Australasia, Melanesia, Micronesia and Polynesia). Sales were supported by an increased volume of sales, the positive effects of foreign exchange rates and improved selling prices. Looking forward, Komatsu has not changed its projection for its full-year results for the rest of the fiscal year, which ends March 31, 2023. Overall, demand will remain flat from fiscal year 2021. The company used the earnings call to reflect on several highlights from the quarter.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code