Kubota's revenue fell in the first nine months of 2025 as the company faces declining equipment sales and over $100 million in tariff expenses.
Kubota’s total revenue for the first nine months was down 3.2% to $14.3 billion, while operating profit fell 22% year-over-year to $1.4 billion.
The decline in operating profit was attributed to falling sales in Kubota’s Farm & Industrial Machinery sector – which covers its farm equipment, agriculture-related products, engines and construction equipment – and an overall $387 million decline in sales mix compared to 2024. This was partially offset by $75 million in savings from reductions in sales incentives and $231 million gained from price increases.
During the third quarter of 2025, 6,229 new financed Kubota machines were sold, according to Fusable’s EDA equipment finance data. Popular models included the SVL97-3 compact track loader, SVL75-3 compact track loader, and SCL-1000 stand-on mini loader.
EDA is owned by Fusable, parent company of Equipment World.
Rising U.S. tariffs over the last nine months, totaling $114 million year-to-date, also impacted year-to-date operating profit.
Overseas (excluding Japan) Farm & Industrial Machinery revenue for the first nine months of the year fell 6.8% year-over-year to $10.8 billion, driven in North America by declining construction equipment sales following 2024 inventory replenishment and a slowing market pulling down tractor sales. Operating profit in the sector also dropped 25.4% year-to-date to $1.4 billion.
Comprehensive income for the first nine months of the year was down even further, dropping 67.9% to $520 million compared to $1.6 billion in the first nine months of 2024.
Total North American revenue, including from Kubota’s Water & Environment sector, fell 11% year-over-year to $5.7 billion.
Kubota forecasts its full 2025 revenue will be down 4.5% year-over-year to $18.7 billion and that operating profit will drop 30.3% to $1.4 billion.
