Titan's operational improvements ranged from inventory management, cost reductions, footprint consolidation to a growing parts & service business resulting in near record profitability on mid-cycle sales levels.
A confluence of factors — from rising ag commodity exports to China, to lower crop production estimates and increasing demand for meat — are converging to paint a more optimistic picture for ag equipment sales than the industry has seen in recent years.
When Sam Allen retired as chairman and CEO of Deere & Co. earlier this year, John May was named his successor. Last month May revealed the company’s new operating model, which is dubbed its “Smart Industrial” strategy.
While U.S.-based Titan Machinery reported a 2% uptick in ag equipment sales in its most recent reporting period, the third quarter wasn’t so kind to Canadian dealers Cervus Equipment and Rocky Mountain Dealerships.
The latest episode of On the Record is now available! Ag Equipment Intelligence editors were on hand for CNH Industrial’s announcement of its 5-year strategic plan, which includes spinning off its “On-Highway” business. Also in this episode, we review Titan Machinery’s 2Q results, provide updates on precision farming and New Holland from the Farm Progress Show, and review one analyst’s observation on corn prices.
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In this episode of On the Record, New Holland Agriculture President Carlo Lambro talks about the future of the company's North America network. In the Technology Corner, Noah Newman takes a look at the recently award-winning One Smart Spray system.