Outlook & Trends

Nearly all of the publicly held companies that manufacture farm machinery reported strong financials for their most recent reporting periods. While not all of them issue outlooks for the rest of the year, their comments indicate that they’re looking for a strong finish for the remainder of 2010.

Following is a brief look at the earnings reports of selecting farm equipment manufacturers.

AGCO, Duluth, Ga.

(Period ended September 30, 2010, in millions of US$)

                                   

                         Q3 10              Q3 09              YTD 10          YTD 09

Net Sales      1,657.4         1,389.5           4,728.6        4,689.2

Gross Profit      303.8           243.1              849.5          805.7

 

Ag Growth, Winnipeg, MB

(Period ended September 30, 2010, in millions C$)

                          3 months ended                9 months ended

___________       _2010          2009                   2010         2009

Sales                 83,112        68,316            207,109    190,445

Gross margin       32,247        28,900             81,260      80,058

Net Earnings        15,410       15,126              34,278      41,684

 

Alamo Group, Seguin, Texas

(Period ended September 30, 2010, in millions of US$)

 

                           Q3 10              Q3 09            YTD 10              YTD 09

Net Sales         132.3           110.3             395.0            333.7

Net Income          8.2              4.6              17.0              9.1

 

CNH Global, Burr Ridge, Ill.

(Period ended September 30, 2010, in millions of US$)

 

                                       Q3 10          Q3 09           YTD 10             YTD 09

Net Sales                  3,540         2,960         10,715             9,570

Gross Profit                  645           448           1,945             1,398

Net Sales – Ag Equip.  2,769         2,454              –                    –

Gross Profit – Ag           547           441              –                    –

Operating Profit – Ag      235           160            732                 545

 

Titan International, Quincy, Ill.

(Period ended September 30, 2010, in millions of US$)

 

                             Q3 10              Q3 09              YTD 10               YTD 09

Net Sales        222,818          141,496         648,922           581,083

Gross Profit       27,946          (3,030)           87,936            56,779

Net Income        4,015         (11,113)           10,662              1,838

Agricultural     170,675          105,426          497,503           453,098