While Rocky Mountain Dealerships posted a 4% gain in overall sales for 2013, its fourth quarter numbers took a hit as the dealer group focused on reducing equipment inventories and its construction equipment segment continued to falter.
USDA’s initial forecast for 2014 net farm income is $34.7 billion lower than current expectations for 2013, but is $8 billion higher than the average of the previous 10 years.
Harvest machinery specialist Claas not only celebrated its 100th anniversary in 2013, it also posted another record set of financial results. Group sales were up 11% on the prior financial year ended September 30, hitting the equivalent of almost $5.2 billion at current exchange rates.
Following a particularly difficult quarter where revenues rose only 1%, Titan Machinery, the Fargo, N.D.-based retailer of farm and construction equipment lowered its outlook for annual revenue, net income and earnings per share.
Deere & Co.’s earnings report surprised more than a few analysts, but many aren’t buying into the company’s forecast for the year ahead, though it’s lower than their fiscal 2013 results.
Cervus Equipment Corp. said its revenues rose by $26.8 million, or 11.5%, during the dealer group’s third quarter, ended September 30. Overall revenue for the period was $260.8 million vs. the same timeframe in 2012.
Following an exceptionally strong first half of its fiscal year, Kubota Corp. said it is increasing its revenue and profit forecast for the full year ending March 31, 2014.
While Ag Equipment Intelligence regularly reports on the earnings of the full-line farm equipment makers and publicly held dealership groups, we haven’t provided a lot of coverage of the specialty equipment manufacturers serving the ag and rural lifestyle equipment markets.
The world’s number two and three largest farm equipment manufacturers, CNH Industrial and AGCO Corp., put up pretty good numbers based on farm equipment sales for the third quarter of the year and year-to-date. At the same time, it doesn’t appear that either one are looking for big things in the months ahead.
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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.