During its pitch to potential investors September 26-30, executives of the newly formed CNH Industrial said the long-term focus of the merged CNH Global and Fiat Industrial group is "Stable, value maximizing capital structure with shareholder friendly distribution policy."
Despite challenging market conditions and the trauma of an earthquake in 2012, the manufacturer of Landini, McCormick and Valpadana tractors continued to improve its profitability through increased efficiencies.
Despite posting hefty revenue gains through the second quarter and first half of its 2014 fiscal year, Titan Machinery cut its full-year outlook to $2.25-$2.45 billion from its earlier forecast of $2.35-$2.55 billion. Titan, whose biggest brand of ag and construction equipment is Case IH, has 109 locations in the U.S. and Eastern Europe.
Despite posting hefty revenue gains through the second quarter and first half of its 2014 fiscal year, Titan Machinery cut its full-year outlook to $2.25-$2.45 billion from its earlier forecast of $2.35-$2.55 billion.
North American farm equipment dealers' level of optimism followed the deceleration of tractor and combine sales in July, but their outlook for the full year remained intact from previous months.
Farm equipment sales in western Canada remained robust through the second-quarter as one of John Deere’s largest retailers of ag machinery in the region, Cervus Equipment Corp., posted record revenues for the period.
Not only did CNH and AGCO see significant gains in revenues and net income during the second quarter ended June 30, 2013, but both farm equipment makers also saw healthy increases in margins that bolstered the companies’ forecasts for the remainder of the year and into 2014.
Deere & Co.’s third-quarter 2013 results easily surpassed analysts’ expectations as the world’s largest ag equipment maker posted a 26% increase in income on a 4% gain in net sales and revenues. At the same time, Deere said it expects a weaker fourth quarter in this fiscal year.
While Titan Machinery reported fiscal year first-quarter revenue increased 4.7% to $442 million vs. the same period last year, its revenue was approximately $50 million lower than the dealer’s initial guidance.
Rocky Mountain Equipment (RME), Case IH’s largest dealer group in western Canada, saw a healthy bump in both sales and earnings in the first quarter of 2013 compared to the same period a year earlier.
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In this episode we look at the potential impact Hurricanes Helene and Milton will have on ag production as well as the dealers and manufacturers in the impacted region.