Welcome to our dedicated page for Hurco Co news (Ticker: HURC), a resource for investors and traders seeking the latest updates and insights on Hurco Co stock.
Hurco Companies, Inc. (Nasdaq: HURC) generates a steady flow of news as an international industrial technology company focused on CNC machine tools, controls, and automation for the metal cutting and metal forming industry. Investors and industry followers can use this page to review company announcements, financial updates, and product-related developments that affect the HURC stock story and Hurco’s position in precision manufacturing.
Regular news items include quarterly and annual financial results, where Hurco reports sales and service fees, gross profit, and order trends across the Americas, Europe, and Asia Pacific. These releases often discuss changes in product mix, demand for Hurco, Milltronics, and Takumi machines, the impact of tariffs and cost reductions, and updates on cash, working capital, and share repurchase activity.
Hurco also issues news about its technology roadmap and automation initiatives. Recent announcements have highlighted AI-driven control features, the company’s vision for Autonomous Machining Centers, and tools such as ChatCNC Chatbot and AI Feature Recognition embedded in its control software. Other news has covered collaborations with partners like Universal Robots and the use of ProCobots collaborative robotic systems to provide integrated automation solutions for CNC machines.
In addition, governance and leadership updates, such as disclosures about executive chair transitions, are communicated through press releases and related filings. For anyone tracking developments in CNC machine tools, industrial automation, and AI-enabled manufacturing, this news feed offers a centralized view of Hurco’s public communications over time.
Hurco Companies reported a net loss of $9.6 million ($1.47 per diluted share) for Q3 FY2024, compared to net income of $260,000 in Q3 FY2023. The loss included an $8.16 million non-cash tax valuation allowance. Sales decreased 20% to $42.65 million. For the nine-month period, Hurco reported a net loss of $15.17 million on sales of $132.88 million, down 18% year-over-year.
Despite sales declines, Q3 orders improved to $52.82 million, up 26% year-over-year and exceeding sales by over $10 million. The company implemented global cost reductions and is focusing on technological innovations, including new control designs and robotic automation integration. Hurco maintains a strong balance sheet to navigate the cyclical machine tool market.
Hurco Companies, Inc. (Nasdaq: HURC) is set to make a significant impact at the 2024 International Manufacturing Technology Show (IMTS) in Chicago. The company will showcase its latest innovations in CNC machine and control technology across a 16,000-square-foot booth. Highlights include:
- New AI assistive technologies like ChatCNC™ help bot and AI feature recognition
- Milltronics' INSPIRE+ platform with new control software
- Takumi's new graphical user interface for the die and mold industry
- Next-generation control concept designs
- Partnerships with Universal Robots, Kawasaki Robotics, SolidCAM, and Air Turbine
- Hurco Automation powered by ProCobots for flexible automation
Hurco's vertical integration of machine, control console, and software allows for rapid innovation and commercialization, positioning the company at the forefront of manufacturing technology as markets begin to recover.
Hurco Companies, Inc. (Nasdaq: HURC) and Kawasaki Robotics (USA), Inc. have announced a strategic collaboration to deliver turnkey, industrial-grade, robotic machine-tending solutions. This partnership combines Hurco's 50+ years of CNC machine and controls innovation with Kawasaki's 50+ years of industrial robotics expertise. The collaboration aims to expand Hurco's product line with robust robotic machine tending solutions for high-mix, low-volume parts manufacturing, without the need for complex robot programming.
Key initiatives include:
- CNC Machine Automation: Developing new technologies for emerging market needs
- Market Expansion: Leveraging networks to reach new customers and markets
- Research and Development: Pooling resources for faster innovation
The companies will showcase interactive, no-code, turnkey, robotic machine tending demos at the 2024 International Manufacturing Technology Show (IMTS) in Chicago.
Hurco Companies announced the suspension of its regular quarterly cash dividend on its common stock, effective immediately. The decision aims to enhance financial flexibility, improve balance sheet strength, and reinvest in core business and R&D.
Previously, the company paid two quarterly cash dividends of $0.16 per share in 2024. The Board will continuously monitor market conditions and the company's cash flow to evaluate potential future cash dividends, but there is no assurance of resumption.
Hurco continues to focus on shareholder interests through possible share repurchase programs, particularly when the stock is undervalued.
Hurco posted a net loss of $3.9M ($0.61 per diluted share) for Q2 FY 2024, a significant decline from the $377K net income ($0.06 per diluted share) in the same period last year. For the first six months, the net loss was $5.6M ($0.86 per diluted share), down from a net income of $1.7M ($0.26 per diluted share) in the prior year.
Sales decreased by 16% to $45.2M in Q2 and by 17% to $90.2M in the first six months, compared to the same periods last year. Notably, European sales took a 24% hit in Q2.
Orders dropped 27% to $44.2M in Q2 and 17% to $94.4M in the first six months. Gross profit also fell, reaching $8M (18% of sales) from $12.6M (23% of sales) in Q2. The CEO highlighted ongoing investment in R&D and plans to showcase new technology at the IMTS in Chicago.
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