John Deere Execs Forecast a Stronger Ag Equipment Industry Upswing Than 2013

During John Deere’s most recent earnings call for its second quarter 2021, participating Deere executives were asked to give their thoughts on the current ag equipment market cycle.

Pöttinger Opens Fourth Manufacturing Facility
The fourth Pottinger production plant was officially opened on June 11, 2021. Together with the company owners, the management team, employees and a small gathering of invited guests attended the handover of the new plant in St. Georgen near Grieskirchen (AT).
Ag Sales Remain Robust in May
Growth accelerated for large ag equipment sales in May, while small/mid inventories fell despite moderating sales growth in a seasonally strong month.
Doosan Bobcat Invests in Telescopic Handler Sales Growth
The launch of a new R-Series range of compact and full-size telescopic handlers marks the beginning of Doosan Bobcat’s campaign to double its sales of these machines into worldwide agricultural and construction markets over the next 5 years.

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Mergers & Acquisitions

Florida Coast Equipment to Purchase 2 Gulf Coast Turf & Tractor Kubota Dealerships
Florida Coast Equipment, a family-owned and operated full service Kubota dealership, will add 35 high paying jobs in just the first 12 months as part of its expansion deal to purchase two Gulf Coast Turf & Tractor Kubota Dealerships, the company announced Wednesday.
AGCO-Amity JV LLC Acquired by Sweden-Based Väderstad
AGCO-Amity JV, LLC (AAJV), the company that markets the well-known brand names of Concord, Wil-Rich and Wishek, announced that it has been acquired by Väderstad AB.
Hutson Inc. Adds 18 Stores, Expands into Michigan
Hutson Inc., a John Deere dealership based in Murray, Ky., announce expansion into Michigan with the acquisition of two multi-location dealerships: Bader and Sons Co. and D&G Equipment.

Earnings Reports

Kubota Posts 22.3% Revenue Increase, Rising Ag Equipment Sales in 1Q21
For the three months ended March 31, 2021, Kubota reported its revenue increased by $902.3 million, up 22.3% from the same period in the prior year to $4.9 billion.
John Deere Reports $12 Billion in 2Q21 Sales, Up 30% YOY
John Deere reported net income of $1.8 billion for its second quarter ended May 2, 2021, compared with net income of $666 million for the same quarter last year. For the first 6 months of the year, net income attributable to Deere was $3 billion, up from $1.2 billion for the same period last year.
MacDon Parent Company Reports 15% 1Q21 Sales Increase, Improved Ag Equipment Sales
During the first quarter of 2021, Linamar experienced strong sales growth, up 15% vs. the first quarter 2020 and outstanding normalized net earnings growth, up 2.3 times in comparison to last year.

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Join experts Marc Johnson and Chris Haverkamp as they break down this past year’s fluctuating markets and how dealers can prepare for what’s to come.

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New York One Step Closer to Right to Repair

The latest episode of On the Record is now available! In this week's program we take a look at the New York State Senate's Digital First repair act, which was recently passed — marking the first chamber in the U.S. to pass a right to repair bill. In the Technology Corner, Ben Thorpe shares dealers' outlook for growing revenue from precision farming. Also in this episode, dealers report new price realization reached a 9-year high in the latest Dealer Sentiments and Business Conditions Update and the Equipment Dealers Assn. announces Claas and Branson Tractors earned top honors in the annual Dealer-Manufacturer Relations survey.

Ag Sales Remain Robust in May
Growth accelerated for large ag equipment sales in May, while small/mid inventories fell despite moderating sales growth in a seasonally strong month.
Dealers Remain Positive on Precision Revenue Growth for 2021
In a year when dealers are facing inventory shortages from wholegoods down to parts — including their precision offerings — their outlook for precision revenue in 2021 is largely positive.
Ag Economy Barometer Declines Sharply in May
The Purdue/CME Group Ag Economy Barometer declined 20 points in May to 158 which is the lowest barometer reading since September 2020 when the index stood at 156. Both the Index of Current Conditions and the Index of Future Expectations declined this month.
European Ag Equipment Industry Sentiment Highest Since 2008
The general Business Climate Index for the Agricultural Machinery Industry in Europe has risen sharply to its highest level since 2008 after having reached the positive range in October for the first time since mid-2019.

John Deere Execs Forecast a Stronger Ag Equipment Industry Upswing Than 2013

Pöttinger Opens Fourth Manufacturing Facility

Ag Sales Remain Robust in May

Doosan Bobcat Invests in Telescopic Handler Sales Growth

Mergers & Acquisitions

Florida Coast Equipment to Purchase 2 Gulf Coast Turf & Tractor Kubota Dealerships

AGCO-Amity JV LLC Acquired by Sweden-Based Väderstad

Hutson Inc. Adds 18 Stores, Expands into Michigan

Earnings Reports

Kubota Posts 22.3% Revenue Increase, Rising Ag Equipment Sales in 1Q21

John Deere Reports $12 Billion in 2Q21 Sales, Up 30% YOY

MacDon Parent Company Reports 15% 1Q21 Sales Increase, Improved Ag Equipment Sales

Upcoming Webinar

What the Heck-onomics is going on?

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New York One Step Closer to Right to Repair

Data & Trends

Ag Economy Barometer Declines Sharply in May

Ag Sales Remain Robust in May

Dealers Remain Positive on Precision Revenue Growth for 2021

Ag Economy Barometer Declines Sharply in May

European Ag Equipment Industry Sentiment Highest Since 2008

Podcasts

[Podcast] On The Record: New York One Step Closer to Right to Repair

[Podcast] On The Record: Growers Remain Positive on Purchase Plans

[Podcast] On The Record: Big Dealers Continue to Get Bigger

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2021 Big Dealer Report and Big Dealer Map (Bundle)

2021 Big Dealer Report (PDF)

2021 Dealer Business Outlook & Trends — Farm Equipment Forecast

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Ag Economy Barometer Declines Sharply in May

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