Cervus Equipment, one of John Deere’s largest farm equipment dealership groups, reports that its ag machinery sales for full-year 2018 rose by 11%. This was a new record for its agriculture segment, as revenues rose to $926,886 vs. $833,677 in 2017.
Alamo Group reported net sales for the fourth quarter of 2018 were $256 million compared to net sales of $243.3 million in the fourth quarter of 2017, an increase of 5.3%.
Tractor and combine sales for 2019 indicate an improvement over 2018 and the strength of the general economy will continue to power the smaller horsepower tractor sales.
Deere & Co. reported net income of $498.5 million for the first quarter ended Jan. 27, 2019 compared with a net loss of $535.1 million for the quarter ended Jan. 28, 2018.
A few ag equipment companies have issued their most recent quarterly earnings reports, but most will be announced in the next few weeks. Following is a list of the farm equipment manufacturers and retailers and the dates of their upcoming or recently issued earnings reports.
The limited cash available to farmers and ranchers in the U.S. will continue to put a dampener on the equipment markets in 2018 and 2019. The expanded depreciation programs that appeared in 2010 and reached its zenith in 2014 had the effect of pulling ahead purchases from future years. We are now enduring the results of that program.
Art’s Way Mfg. Co., a diversified, international manufacturer and distributor of equipment serving agricultural, research and steel cutting needs, announced its financial results for the third quarter and year-to-date of fiscal 2018.
Steel and aluminum prices will most certainly result in an increase in all farm equipment prices next year but our agricultural economy has been able to overcome those increases in the past and will most likely do so in the future.
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The announcement of a partnership between New Holland and Bluewhite was one of the big precision stories of the summer. West Coast New Holland dealers now have the rights to sell, distribute and service Bluewhite’s aftermarket autonomy kits.