Cervus Equipment, John Deere’s largest ag equipment dealership group in Canada, posted strong results for the first quarter of 2020 ended March 31. The company reported new equipment revenue increased 21% in the first quarter of 2020 compared to the same quarter of 2019.
Rocky Mountain Dealerships (RME) reported on March 11 that its fourth quarter 2019 sales declined 26%, which was just slightly better than full year results that saw sales drop by 26.3%.
Deere & Co. reported that its worldwide net sales and revenues decreased 4% in the first quarter of 2020, ended Feb. 2, to $7.63 billion. Net sales of the company’s equipment operations were $6.53 billion for the quarter, compared with $6.94 billion in 2019; a decline of 6%.
Deere & Co. reported net income of $722 million for the fourth quarter ended Nov. 3, 2019, compared with net income of $785 million for the quarter ended Oct. 28, 2018. For fiscal 2019, net income attributable to Deere & Co. was $3.253 billion compared with $2.368 billion in 2018.
Calgary-based Cervus Equipment, one of John Deere’s largest ag equipment retailers with 36 store locations, reported that its consolidated revenue for the third quarter of 2019 ended Sept. 30 declined by 19% year-over-year.
Rocky Mountain Dealerships (TSX:RME) Canada's largest farm equipment dealer group, posted a 21.1% decrease in total sales during the third quarter of 2019 ending Sept. 30. Sales during the period declined by $49,307 to $184,067 from $233,374 during the same period in 2018.
Titan Machinery, CNH Industrial’s largest ag equipment dealership group, reported a 6% gain in consolidated revenues for its second quarter of fiscal year 2020 ended July 31, 2019. The company also raised its outlook for fiscal 2020.
Cervus Equipment Corp., a 21 store John Deere dealership group, reported that overall revenue decreased 20% in the quarter, with reduced equipment sales in its Agricultural segment comprising the majority of the decrease.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we look at John Deere’s proposal for a 2-year labor contract extension with the UAW.
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.