Komatsu reported a small gain in North American construction, mining and utility equipment net sales in the third quarter of its fiscal year 2025, though the overall forecast for the year remains negative.
North American construction, mining and utility equipment net sales were up 2.2% in the third quarter to $1.7 billion but down 4.2% for the first nine months of the fiscal year to $4.7 billion.
Komatsu reported that, though it sold fewer machines in North America in the third quarter, revenue remained positive through improved equipment selling prices and the positive impact of a depreciating Japanese yen.
In the fourth quarter of 2025, Komatsu sold 2,023 new financed machines in the U.S., according to Fusable’s EDA equipment finance data. Popular models included the WA320-8 wheel loader, PC88MR-11 mini excavator and PC360LC-11 excavator. EDA is owned by Fusable, parent company of Equipment World.
Looking at the full nine months in North America, Komatsu reported construction equipment sales rose on steady demand for energy-related sectors and infrastructure development, but the overall segment declined due to a drop in mining equipment sales.
Among construction highlights for the third quarter, Komatsu pointed to steady promotion of its Smart Construction jobsite digital solution and reported the total number of its Autonomous Haulage System (AHS) mining trucks in the market reached 982 units.
Net sales for the third fiscal quarter, among all Komatsu’s business segments, was up 3.5% year-over-year to $6.6 billion, while operating income in the quarter fell 12.7% to $912 million. For the first nine months of the year, net sales fell 1.4% to $18.8 billion and operating income was down 10.1% to $2.7 billion.
Overall net income for the third quarter fell 13.1% to $604 million and was down 13% in the first nine months of the fiscal year to $1.7 billion.
Global net sales from Komatsu’s construction, mining and utility equipment segment rose 3% year-over-year to $6.1 billion in the third quarter but were down 2.2% in the first nine months of the fiscal year to $17.3 billion.
Komatsu attributed declining global construction, mining and utility equipment sales over the first nine months of the fiscal year primarily to lower sales volumes and appreciation of the Japanese yen, despite the company’s efforts to boost selling prices.
For its full fiscal year 2026, Komatsu is still projecting net sales to decline 5.3% to just under $25 billion, while the company’s net income forecast for the year is a 27.2% decline to $2.1 billion. Construction net sales for the full year are expected to drop 6% to $23.1 billion, including a 3.7% decline in North American construction net sales to $6.4 billion.
As of October 2025, Komatsu estimates the full year negative impact of new tariffs from the U.S., which were announced in 2025, at $580 million.
Currency conversions as of February 2.
