Titan Machinery, Case IH’s largest dealer of farm machinery, reported on June 9 that overall revenue soared in its fiscal first quarter of 2011, but net income edged lower on higher costs and interest expenses.
Arts Way Manufacturing, (Nasdaq: ARTW), a manufacturer and distributor of agricultural machinery, equipment and services, based in Armstrong, Iowa, reported on April 13 that its latest quarterly profit for the 3 months ending February 28 was up by $30,000 over the same period last year.
Publicly held Cervus Equipment Corp. (CVL – TSX Venture), one of Deere & Co.’s largest farm machinery retailers, reports that its revenue from sales of ag and construction equipment increased by $28.8 million to $377.5 million compared with $348.7 million in 2008 for the year ended December 31.
While CNH surprised many analysts with its fourth quarter and year-end earnings report on January 25, its financial outlook for 2010 remains hazy at best.
According to the analyst, Deere expects its worldwide sales and North American markets to deteriorate by 4% and 10%, respectively, but he expects Cervus to perform slightly better than its major equipment supplier.
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Precision ag pioneer Al Myers is a member of the Farm Equipment Shortline Legends Hall of Fame 2024 class. It’s been almost 35 years since the Ag Leader founder introduced the groundbreaking Yield Monitor 2000.