Titan Machinery, North America's largest dealer network for farm equipment, this morning reported its revenue increased 37.6% to $582.1 million for the third quarter of fiscal 2013 from revenue of $423 million in the third quarter last year, also raised its outlook for the remainder of the year.
Within the next few days most of you will be receiving the October/November issue of Farm Equipment that features our 2013 Dealer Outlook & Trends report. This is based on the annual survey we conduct of North American dealers.
Results from the most recent Dealer Sentiment & Business Conditions Update survey shows that North American farm equipment dealers are feeling a bit better about their business prospects these days. At the same time, commentary from the survey indicates that dealers are still gun shy about making big plans for 2013.
Dealer sentiments about equipment sales for the rest of the year look to be taking a "cautious"? turn and, in all likelihood, reflect the mood of their customers in the wake of the worst drought in the Midwest in more than three decades.
The Ag Equipment Intelligence-Cleveland Research Co. (AEI-CRC) Dealer Optimism Index, a measure of sentiment among North American dealers compared to the prior month, declined to a net 9% of dealers reporting they have a less optimistic outlook now vs. a net 5% reporting more optimism last month.
In addition to reporting a record $2.8 billion income for the year, last Wednesday, Deere & Co. reported that its fourth-quarter income rose 46% on a 20% increase in sales and revenues.
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.