While consolidated revenue for 2QFY24 increased 29.4% year over year and Ag segment revenue grew 34.4%, the company maintained its FY24 guidance that the Ag segment would be up 20-25% year over year.
The company's net income was up 29% from the same period last year. Diluted EPS saw 30% year-over-year growth. Net sales of ag equipment grew by 4% year-over-year.
The company is off to a strong start to the 2024 fiscal year according to David Meyer, chairman and CEO. He added that the ag segment continues to drive growth.
Award-winning farmer and No-Till Farmer Conservation Ag Operator Fellow Ray McCormick talks about his long history of working with Alliance Tractor, particularly Sales Representative Ryan Seger, with whom he shares a passion for no-till farming and cover crops.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
Montag is the industry’s innovative leader for precise, accurate metering of fertilizer, seed and other nutrients. The Montag system has become the standard for deep banding of fertilizer. Montag is also pioneering the technology for cover crop seed application. The new Cover Crop+ is able to meter the smallest seed, and can be mounted to tillage implements, combines, plus Hagie sprayers and detasselers.
Finance Scope is able to provide the best financing opportunities for equipment dealers and customers through a diverse mix of lending companies under one single platform. Our large group of lenders, allows for competitive rates regardless of credit scores. Additionally, dealers and customers have access to the industry’s best expertise surrounding finance and lease structures, for all purposes, within the agricultural and construction industries. We provide all of this into one online platform to provide our customers with the best available tailored finance solution for their equipment.