David Meyer, Titan Machinery's chairman and chief executive officer, stated, "Equipment demand momentum continued through our second fiscal quarter with our equipment revenues increasing 35% vs. prior year."
Deere & Company reported net income of $1.667 billion for the third quarter ended August 1, 2021, or $5.32 per share, compared with net income of $811 million, or $2.57 per share, for the quarter ended August 2, 2020.
Cervus delivered $15 million in adjusted income before tax, a record for the second quarter and a significant increase of $7 million or 84%, compared to $8 million generated in the same period last year.
Revenue for the quarter was $79.2 million, up $2.6 million from the prior year third quarter, representing an 3% increase over the prior year and continuing the sales growth seen in the first two quarters.
Global agriculture sales of $282 million increased 87.2% year-over-year, due to higher volumes across all markets, particularly in North America, the Middle East and Brazil, favorable pricing and higher technology sales.
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