Net income was $91 million in the second quarter of 2019, a decrease of $11 million compared to the second quarter of 2018 primarily attributable to pricing and the one-time credit loss provision releases incurred in 2018.
CNH Industrial showed a strong year-over-year sales gain in 2018. The company reported consolidated revenues of $29.7 billion for the full year, up 7% compared to 2017. Net sales of Industrial Activities were $27.8 billion for the year, up 8% vs. 2017.
In a March 23 memo to North American Case IH dealers and Case IH employees, Leandro Lecheta and Andreas Klauser announced that Vice President Jim Walker has elected to retire from the company after 11 years. Scott Harris, current Vice President of Case Construction, will transition to Case IH and lead the brand as Vice President in North America.
Titan Machinery Inc. plans to build a 20,000-square-foot location that will take the last remaining space in one of the Sioux Falls Development Foundation development parks.
Titan Machinery and CNH Industrial continued their long-standing partnership and financial support of Minnesota State Community and Technical College by providing a $100,000 contribution to the CNH Industrial "Forging the Future" Diesel Equipment Technology program and the new Transportation Center on M State's Moorhead campus.
CNH Industrial N.V., a global manufacturer in the capital goods sector, is making a $24-million investment to expand its production facilities in Burlington, Iowa.
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.