Worldwide net sales and revenues decreased 1%, to $15.412 billion, for the fourth quarter of fiscal 2023 and rose 16%, to $61.251 billion, for the full year.
Operating income for the quarter was $27 million, a decrease of $8.2 million, or 23%, compared to operating income of $35.2 million in the prior year third quarter.
Deere & Company reported net income of $2.860 billion for the second quarter ended April 30, 2023, or $9.65 per share, compared with net income of $2.098 billion, or $6.81 per share, for the quarter ended May 1, 2022.
Valmont reported ag sales of $332.2 million, up 8.3% year-over-year, with sales growth led by higher average selling prices of irrigation equipment globally.
Art’s Way Manufacturing Co., a diversified, international manufacturer and distributor of equipment serving agricultural, research and steel cutting needs, has announced its financial results for the first quarter of fiscal 2023.
Revenues for the second quarter of fiscal 2023 were $166.2 million, a decrease of $33.9 million, or 17%, compared to revenues of $200.1 million in the prior year second quarter. Almost all of the decrease came from the irrigation segment as infrastructure revenues were down slightly.
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Today we’re spotlighting Trimble’s new see and spray technology. It’s called the Bilberry system — a camera-based system that enables farmers to save up to 90% on herbicide applications by only spraying where the weeds are in the field. And as Trimble’s Cory Buchs tells us, one of the best things about it is it retrofits to existing sprayers.