Titan Machinery, Case IH’s largest dealer of farm equipment, reported consolidated revenues slipped 3.7% for the period ended July 31, 2020, but year-over-year sales from its agriculture segment increased by 2% for the quarter.
Deere & Co. reported consolidated net sales and revenues of $8.9 billion during its third quarter ended Aug. 2, 2020 vs. $10 billion in the same period a year earlier, a decline of 11%. Equipment operations came in at $7.9 billion during the period compared to nearly $9 billion last year, also a drop off of 12%.
CNH Industrial posted consolidated revenues of $5.6 billion in the second quarter of 2020, down 26% compared to the second quarter of 2019. In total, consolidated revenues were $5.6 billion for the second quarter of the current year, down 26% year-over-year compared to the second quarter of 2019.
Titan Machinery Inc. (Nasdaq: TITN) reported financial results for the fiscal first quarter ended April 30, 2020, which included first quarter revenues of $310.2 million compared to $278.3 million in the same period a year earlier.
Titan International Inc. (TWI), a global manufacturer of agricultural and other off-highway wheels, tires, assemblies, and undercarriage products, reported results for the fourth quarter and year ended Dec. 31, 2019.
Alamo Group Inc. (ALG) reported results for the fourth quarter and year ended December 31, 2019 on Feb. 27. The company said it achieved record sales for the full year and during the fourth quarter of 2019.
Raven Industries is reporting that net sales for the third quarter of fiscal 2020 were $100.5 million, down 4.1% vs. the third quarter of fiscal 2019. Each division experienced a modest year-over-year decline in net sales.
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.
Titan Machinery, CNH Industrial’s largest retailer of farm and construction equipment, reported overall revenues in its third quarter of fiscal 2020 were flat vs. the same period of the prior year. Total revenue during the period was $361 million compared to $361 million in the third quarter of fiscal 2019.
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.
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