For the fourth quarter of fiscal 2016, revenue was $335.5 million, compared to $490.7 million in the fourth quarter last year. Equipment sales were $243.8 million for the fourth quarter of fiscal 2016.
Diversity in its product range and in the markets it serves proved beneficial to Kubota Corp. last year as buoyant sales of compact tractors to homeowners in North America offset a decline in mid-size tractor sales.
In Europe, the ag sector ended the year with "new-found dynamics," but Michel Denis, president and CEO, says his outlook for 2016 is tempered by less positive signals from North America.
For the fourth quarter of fiscal 2016, Titan expects revenue to be down about 32% year-over-year. Full-year fiscal 2016 revenues are expected to be down about 28% from fiscal 2015.
"2015 was a year of significant growth for Cervus. We started the year with 19 more dealerships than at the beginning of 2014, which generated an additional $245 million in revenue," said Graham Drake, president and CEO of Cervus, in the company's earnings report.
In its earnings report, Rocky Mountain Dealerships says its was able to deliver strong gains in 2015 due to bolstered demand for used equipment and product support in the company's agriculture segment.
Net sales in the North American region decreased 16.3% in the full year of 2015 compared to 2014, excluding the negative impact of currency translation. Weaker industry demand and dealer inventory reduction efforts contributed to lower sales.
AGCO announced that it has increased the company’s quarterly dividend to $0.13 per outstanding share up $0.01 from $0.12 per outstanding share paid last quarter.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we look at President Trump's tariff reduction on ag equipment, the latest dealer sales forecasts, and how high input costs are keeping farmer sentiment down.
Since 1980, A&I Products has become a leading manufacturer and wholesale distributor of aftermarket replacement parts for the agricultural, turf, and industrial equipment markets. A&I Products' experience and expertise has greatly contributed to the company's reputation as a top supplier of quality, reasonably priced parts. Founded with roots as a small machine shop and repair facility, the company made the transition by manufacturing new parts to replace those that were identified as commonly needing repair. Throughout the 1980s, the company quickly garnered a reputation for offering quality parts at a reasonable price.
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.
At Machinery Scope, we believe you deserve the best risk management solutions for your investments in heavy equipment. Since 2013, we have been proud to offer extended warranty, appraisals, and inspections. Machinery Scope is a family-owned business built on our experience in farming and equipment dealerships. We understand your business and provide a personalized and professional level of customer service. Machinery Scope has built a strong warranty product with our customers in mind, offering the same professional level of service from the time you get a quote, through the processing of a claim.