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Articles Tagged with ''COVID-19''

Deutz Reports 1Q20 Revenues Down 25%; Ag Revenue Down 35.7%

June 8, 2020 | Posted in Earnings Reports

Deutz, a global manufacturer of drive systems, registered an overall decline in business performance in the first quarter of 2020, as it had expected. This was due in large part to the global fall in demand in key customer industries – heavily exacerbated by the coronavirus crisis – which caused a further contraction in the reporting period.

Farmer Sentiment Rises Modestly in May

June 2, 2020 | Posted in Data & Trends

Farmer sentiment improved slightly in May after falling sharply in both March and April. The Purdue University-CME Group Ag Economy Barometer reading in May was 103, up 7 points from the April reading of 96. The barometer’s small improvement left the gauge of farmer sentiment nearly 40% below its February peak of 168.

Mahindra Reports Tractor Sales Up 2% in May

June 1, 2020 | Posted in Equipment & Equipment Sales

According to a report from ETAuto, the company reported tractor sales up 2% year-over-year last month, with 24,017 units sold, compared to 23,539 sold in May 2019.

Amazone Reports Sales Down 2.9% in FY19

June 1, 2020 | Posted in Earnings Reports

Sales declined by 2.9% to €467 million ($519 million) in the fiscal year 2019, down from the record €481 million ($535 million) posted in 2018. Amazone’s joint managing directors, Christian Dreyer and Dr. Justus Dreyer, said confidence remains strong in the agricultural sector, despite the current challenges posed by the coronavirus pandemic.

Real GDP Dropped an Estimated 5% in 1Q20

May 28, 2020 | Posted in Ag Equipment Business

Real gross domestic product (GDP) decreased at an annual rate of 5% in the first quarter of 2020, according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.1%.

Deere Reports Net Sales Down 18% in 2QFY20

May 22, 2020 | Posted in Earnings Reports

Deere & Company reported net income of $665.8 million for the second quarter ended May 3, 2020, compared with net income of $1.135 billion for the quarter ended April 28, 2019. For the first six months of the year, net income attributable to Deere & Company was $1.182 billion compared with $1.633 billion for the same period last year.

Raven Industries Reports Net Sales Down 11.9% in 1QFY21

May 20, 2020 | Posted in Earnings Reports

The company reported consolidated net sales for the first quarter of fiscal 2021 were $86.5 million, down 11.9% vs. the first quarter of fiscal 2020. All three operating divisions faced significant challenges related to the pandemic throughout the last two months in the first quarter.

KC Fed Ag Credit Survey: Initial Impact of COVID-19 Showing Up

May 20, 2020 | Posted in Data & Trends

Agricultural credit conditions in the Kansas City Fed’s Tenth District deteriorated at a slightly faster pace at the onset of developments related to COVID-19. The survey for the first quarter of 2020, distributed in mid-March, indicated a larger decline in farm income and loan repayment rates than in recent quarters.

Pakistani Tractor Sales Continue to Fall in FY20

May 18, 2020 | Posted in Ag Equipment Worldwide

According to a report from The Express Tribune, the ongoing slump of the Pakistani ag equipment industry has only been worsened by the COVID-19 pandemic.

Potential Learnings and Changes for a Post-COVID-19 Food and Agribusiness Industry

May 18, 2020 | Posted in Analysis & Commentary

A few weeks ago. Dr. Allan Gray wrote about his predictions for the aftermath of the current global pandemic in the food and agribusiness world in a blog titled, Potential Learning and Changes for a Post-COVID-19 Food and Agribusiness Industry. How do we move forward, learning to create a stronger, more resilient food and agribusiness industry?

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[Technology Corner] Pessl Instruments CEO Talks Dealer Benefits From Lindsay Corp. Investment

Today, we’re looking at Austria-based Pessl Instruments, an agtech provider operating under the METOS brand. Irrigation equipment manufacturer Lindsay Corporation recently acquired a minority interest in Pessl Instruments following a strategic partnership the 2 companies announced in May 2023.

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