Net Sales of $688.8 million declined 1.7%; excluding $13.7 million of unfavorable currency impacts, sales were similar to last year, as strong growth in Utility Support Structures was offset by lower sales in the Coatings segment due to COVID-19 impacts, as expected.
This year, articles dealing with low water reserves for land used for agricultural purposes, the high prevailing temperatures or climate change in general often carried the title "Drought in Germany." Hand-in-hand with this, the necessity of irrigation is also being discussed with increasing frequency. The consensus is that irrigation is becoming ever more important to safeguard agricultural yields.
Valmont Industries, Inc. (NYSE: VMI), a global provider of engineered products and services for infrastructure development and irrigation equipment and services for agriculture, reported financial results for the third quarter ended Sept. 28, 2019.
Valmont Industries, the manufacturer of irrigation equipment for agriculture, reports that it has closed its Valley, Neb., manufacturing facility until at least Wednesday, March 20, as flood waters have made it unsafe for employees.
In this week's podcast we look at how dealers' sales outlook for 2018 compares to that of the OEMs, cyber-based security threats to precision farming and an increase in non-real estate farm loans. In addition, we look into the University of Missouri's Food and Agricultural Policy Research Institute's forecast for net farm income in 2018 and 2019, North American ag equipment sales through the first three quarters of 2018 and an improvement in irrigation equipment sales for Lindsay.
Revenue of $678.7 million was down slightly compared to last year, as revenue gains in the Engineered Support Structures, Utility Support Structures and Coatings segments were offset by lower sales in Irrigation and unfavorable currency impacts of $12.6 million (1.9% of sales).
Each monthly issue of Ag Equipment Intelligence is like getting one-on-one personal advice from the world's most trusted ag equipment industry experts. Advice that hasn't been watered down or distorted by outside influence, providing the latest and most insightful farm equipment analysis. AEI explores where the ag equipment industry is going — not just where it's been. No filler. No bias. No conflict of interest. You can access the PDF issue archive by clicking here.
In this week's episode we take a first look at the UAW strike at 14 of Deere's U.S. facilities. In the Technology Corner, Michaela Paukner examines Kubota's planned acquisition of AgJunction for $72.8 million. Also in this episode, California Gov. Gavin Newsom has signed a bill that will ban gas-powered small-off road engines. Ben Thorpe reports on dealers early orders heading into 2022, based on the results of Ag Equipment Intelligence's Dealer Business Outlook & Trends report. Art's Way reported its second straight profitable quarter, and saw Agriculture Products segment sales for the third quarter improve by 27% vs. last year.