Hurco Companies

Hurco Cos., Inc. is an international industrial technology company, which engages in the design, manufacture and sale of computerized machine tools. It also offers machine tool components, software options, control upgrades, and accessories and replacement parts for its products, as well as customer service and training and applications support. The company was founded by Edward Humston and Gerald V. Roch in 1968 and is headquartered in Indianapolis, IN.

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Hurco Cos., Inc. is an international industrial technology company, which engages in the design, manufacture, and sale of computerized machine tools. It also offers machine tool components, software options, control upgrades, and accessories and replacement parts for its products, as well as customer service and training and applications support. The company was founded by Edward Humston and Gerald V. Roch in 1968 and is headquartered in Indianapolis, IN.

INDIANAPOLIS, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq: HURC), announced today its vision to drive the future of Autonomous Machining Centers by harnessing the power of AI, mechatronics, motion, and simulation technologies.

Hurco Poised to Pioneer the Future of Manufacturing

INDIANAPOLIS, Oct. 11, 2024 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq: HURC) made waves at the 2024 International Manufacturing Technology Show (IMTS), unveiling cutting-edge technological advancements that mark a turning point in the company's ability to leverage emerging AI technology directly into its core control software. Business owners and operators will be excited to learn that these innovations, born from relentless R&D efforts, position Hurco as a leader in machine tool technology. Visitors to IMTS were given an exclusive preview of the revolutionary AI-driven features that will define Hurco's next-generation control systems, showcasing the company's forward momentum and continued leadership in CNC control technology.

Hurco's AI Innovations Set to Revolutionize the Industry, Ushering in a New Era of Speed and Precision

INDIANAPOLIS, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq: HURC) delivered a standout performance at the 2024 International Manufacturing Technology Show (IMTS) in Chicago, showcasing groundbreaking advancements in CNC technology and control systems. The company's expanded 16,000-square-foot booth attracted an abundance of visitors at a well-attended show, underscoring Hurco's leadership in innovation and ability to meet the evolving needs of manufacturers.

Hurco Celebrates Successful IMTS as Show Generates Excitement Over Technological Advancements

Hurco's overall topline is dampened by revenue declines in all its geographic regions.

HURC Stock Up Despite Y/Y Decline in Q3 Earnings, Gross Margin Down

Hurco is rated as a HOLD due to current economic factors beyond its control affecting business performance. A significant drop in sales in Europe, the U.S., and China, are impacting Hurco's revenues. The company's success is closely tied to the industrial manufacturing sectors in the U.S., Italy, Germany, the U.K., France, India, and China.

With Global Manufacturing Growth Uncertain Hurco Gets A Hold Rating

Innovative collaboration between Hurco Companies, Inc. and Universal Robots delivers a new turnkey automation system that empowers manufacturers despite a tightening labor market Innovative collaboration between Hurco Companies, Inc. and Universal Robots delivers a new turnkey automation system that empowers manufacturers despite a tightening labor market

Hurco and Universal Robots Showcase Integrated Automation Packages at IMTS

INDIANAPOLIS, Sept. 06, 2024 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq: HURC) today reported results for the third fiscal quarter ended July 31, 2024. Hurco recorded a net loss of $9,596,000, or $(1.47) per diluted share, in the third quarter of fiscal year 2024, which included a non-cash tax valuation allowance of $8,158,000 recorded in provision for income taxes. This net loss of $9,596,000 for the third quarter of fiscal 2024 compares to net income of $260,000, or $0.04 per diluted share, for the corresponding period in fiscal year 2023. For the nine months of fiscal year 2024, Hurco reported a net loss of $15,166,000, or $(2.33) per diluted share, compared to net income of $1,967,000, or $0.30 per diluted share, for the corresponding period in fiscal year 2023. The net loss for the nine months of fiscal 2024 also included the $8,158,000 non-cash tax valuation allowance recorded in provision for income taxes.

Hurco Reports Third Quarter Results for Fiscal Year 2024

Hurco Companies, Inc. will highlight the benefits of the company's relentless focus on control technology and product development at 2024 IMTS Booth #338319 Hurco Companies, Inc. will highlight the benefits of the company's relentless focus on control technology and product development at 2024 IMTS Booth #338319

Hurco's Unique Expertise in Control Technology and Dedication to Product Development to Be on Display at IMTS

Companies will present interactive, no-code, turnkey, robotic machine tending demos in booth #236520 and booth #338319 at the 2024 International Manufacturing Technology Show (IMTS) in Chicago, Illinois (USA)

Hurco Announces Strategic Collaboration with Kawasaki Robotics to Deliver Turnkey, Industrial-Grade, Robotic Machine-Tending Solutions

Discover why Zacks rates Hurco as "Underperform", being the first on Wall Street to initiate coverage on the stock. Explore HURC's reduced profitability and operational inefficiencies despite a strong balance sheet and innovation efforts.

Zacks Initiates Coverage of Hurco With Underperform Recommendation

Hurco Cos. Inc.'s stock HURC, -0.75% tumbled 12.8% early Friday, after the industrial technology company said it's suspending its quarterly dividend as it works to enhance its financial flexibility. “While it was a difficult decision, we believe that temporarily suspending the quarterly cash dividend on Hurco's common stock will provide near-term benefits to our cash flow management while also allowing us to enhance our balance sheet and more optimally allocate available capital among various strategies,” said Greg Volovic, chief executive of the Indianapolis-based company, in prepared remarks.

Hurco's stock slides 12.8% after company suspends quarterly dividend payments

INDIANAPOLIS, June 14, 2024 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq Global Select Market: HURC) (“Hurco” or the “Company”), an international industrial technology company, announced today that its Board of Directors (the “Board”) elected to temporarily suspend the Company's regular quarterly cash dividend on its common stock, effective immediately. The decision comes as the Company seeks to enhance its financial flexibility and improve its ability to manage market volatility while focusing on strengthening its balance sheet, reinvesting in the Company's core business and research and development related to emerging technologies, and returning value to shareholders via the appropriate channels in both the near and long-term.

Hurco Companies, Inc. Announces Suspension of Quarterly Cash Dividend

Hurco's (HURC) overall topline is dampened by revenue declines in all its geographic regions.

Hurco (HURC) Q2 Earnings Decline Y/Y, Gross Margin Contracts

Hurco's fiscal second quarter reflected underappreciated pressures in the industrial economy, as industrial capex spending weakens amid short-cycle uncertainty. The company's gross margin fell more than expected, as the company cut prices to move inventory and saw a less favorable sales mix. Macro indicators like PMIs and machine tool orders as well as weaker results from other players in industrial markets support the thesis that current underlying conditions are tough.

Hurco's Results Reflect An Underlying Industrial Market That Is Still Under Real Pressure

Hurco's fiscal Q4'23 results were surprisingly strong, but fiscal Q1'24 saw a sharp decline, reflecting the volatility of the business and still-weak trends across the manufacturing sector. Manufacturing activity remains challenged, with indicators like PMI and cutting tool consumption showing signs of stress, and election years often lead to postponed capex/expansion projects. While Hurco may have seen the worst and is priced as an attractive way to play a short-cycle recovery, uncertainties in the market and above-average risks should not be ignored.

Hurco Hammered As Short-Cycle Manufacturing Trends Remain Weak

INDIANAPOLIS, March 15, 2024 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq Global Select Market: HURC), an international industrial technology company, announced today that its Board of Directors approved the payment of a cash dividend of $0.16 per share on its issued and outstanding common stock. The dividend will be paid on April 12, 2024, to shareholders of record as of the close of business on March 29, 2024.

Hurco Companies, Inc. Announces Quarterly Cash Dividend

INDIANAPOLIS, March 08, 2024 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq: HURC) today reported results for the first fiscal quarter ended January 31, 2024. Hurco recorded a net loss of $1,648,000, or $0.25 per diluted share, for the first quarter of fiscal year 2024, compared to net income of $1,330,000, or $0.20 per diluted share, for the corresponding period in fiscal year 2023.

Hurco Reports First Quarter Results for Fiscal Year 2024

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INDIANAPOLIS, Jan. 05, 2024 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq: HURC) today reported results for the fourth fiscal quarter and fiscal year ended October 31, 2023. Hurco recorded net income of $2,422,000, or $0.36 per diluted share, for the fourth quarter of fiscal 2023, compared to net income of $1,424,000, or $0.22 per diluted share, for the corresponding period in fiscal 2022. For fiscal year 2023, Hurco reported net income of $4,389,000, or $0.66 per diluted share, compared to net income of $8,226,000, or $1.23 per diluted share, for fiscal year 2022.

Hurco Reports Fourth Quarter and Full Year Results for Fiscal 2023

Hurco Companies is a company dedicated to the manufacturing of technology products that primarily serve customers in the metal fabrication industry. It is trading at its lowest stock valuation in the last decade despite delivering better-than-expected quarterly results. A stock repurchase program and lower share count could lead to increased demand for the stock and potential stock price increases.

Hurco: New Stock Repurchases, Lower Selling Cost, And Very Cheap

Hurco's fiscal Q3 results were fairly stable relative to Q2, but the outlook is weaker, with a sharp decline in orders and a need to reduce inventories and realign production. Macro indicators in Hurco's major markets, such as manufacturing PMI and machine tool orders for the U.S. and Germany, are not good, indicating a weakening market. Despite the challenges, Hurco has the cash to weather the uncertainty and should benefit from reshoring-driven manufacturing capex investments in the future.

Hurco Sees Another Downturn In Orders As Manufacturers Batten Down The Hatches

INDIANAPOLIS, Sept. 08, 2023 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq: HURC) today reported results for the third fiscal quarter ended July 31, 2023. Hurco recorded net income of $260,000, or $0.04 per diluted share, for the third quarter of fiscal year 2023, compared to net income of $1,238,000, or $0.18 per diluted share, for the corresponding period in fiscal year 2022. For the nine months of fiscal year 2023, Hurco reported net income of $1,967,000, or $0.30 per diluted share, compared to net income of $6,802,000, or $1.01 per diluted share, for the corresponding period in fiscal year 2022.

Hurco Reports Third Quarter Results for Fiscal Year 2023

The share price is trading 56% below all-time highs due to declining revenues and margin contraction. Orders have increased slightly during the past quarter, suggesting some demand stabilization. Margins have recently declined due to weaker volumes and inflationary pressures, and cash from operations is not enough to cover capital expenditures and dividend payments.

Hurco: Strong Enough To Endure Current And Potential Headwinds

Hurco's fiscal second quarter results may point to a bottoming in the cycle, as revenue declines slow and orders return to growth from a low level. Margins are soft on mix, overhead absorption, and ongoing business investments, but investing in the EU business makes sense. U.S. industrial production is likely to slow in the coming months, and European indicators are mixed, but Hurco's orders usually lead these indicators.

Hurco Likely Past The Worst, But The Bull Case Needs Time

INDIANAPOLIS, June 09, 2023 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq Global Select Market: HURC), an international industrial technology company, announced today that its Board of Directors approved the payment of a cash dividend of $0.16 per share on its issued and outstanding common stock. The dividend will be paid on July 10, 2023, to shareholders of record as of the close of business on June 26, 2023.

Hurco Announces Quarterly Cash Dividend

News for Hurco Companies Stock (HURC)