Earnings Reports

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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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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Cervus Equipment 1Q20 Revenues Rise 9%; Ag Up 8%

Cervus Equipment, John Deere’s largest ag equipment dealership group in Canada, posted strong results for the first quarter of 2020 ended March 31. The company reported new equipment revenue increased 21% in the first quarter of 2020 compared to the same quarter of 2019.
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