Articles Tagged with ''COVID-19''

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

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.
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Farmer Sentiment Rises Modestly in May

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.
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Amazone Reports Sales Down 2.9% in FY19

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.
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Deere Reports Net Sales Down 18% in 2QFY20

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

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.
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