Net sales for the third quarter of 2020 were $304.8 million, compared to net sales of $345.9 million for the third quarter of 2019, representing a $41.1 million, or 11.9% decrease.
AGCO, a worldwide manufacturer and distributor of agricultural equipment and solutions, reported its results for the third quarter ended Sept. 30, 2020. Net sales for the third quarter were approximately $2.5 billion, an increase of approximately 18.4% compared to the third quarter of 2019.
In the fourth quarter of 2020, Exel Industries generated revenue of $267.4 million, up $31.1 million (+13.1%) compared with fourth quarter 2019. At constant foreign exchange rates and scope, fourth quarter revenue amounted to $254.6 million, up 7.7% from fourth quarter 2019.
Sales of CNH Industrial farm machinery — including Case IH and New Holland brands — declined 18% in the second quarter of the year to $2.5 billion vs. $3.1 billion a year earlier.
Buhler Industries, the manufacturer of the Versatile and Farm King brands of ag equipment, reported its third quarter revenues were up more than 19% to nearly C$77 million.
For the six months ended June 30, 2020, revenue of Kubota Corporation and its subsidiaries (hereinafter, the “Company”) decreased by ¥86.7 billion or $820 million (–8.9%) from the same period in the prior year to ¥884.2 billion ($8.4 billion).
Revenue for the quarter was C$76.6 million, up C$12.5 million from the prior year third quarter. Revenue for the first nine months of 2020 was C$185.7 million, up C$6.1 million from 2019.
While Deere’s year-over-year net sales declined 20% in its fiscal year second quarter and the company also lowered its full year outlook, industry analysts noted the company’s performance during the period was much better than they expected.
The company report the 2019 fiscal year concluded with a consolidated net profit of 5.8 million euros ($6.4 million), almost quadrupled compared to the previous year, when it was around 1.5 million euros ($1.7 million).
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The announcement of a partnership between New Holland and Bluewhite was one of the big precision stories of the summer. West Coast New Holland dealers now have the rights to sell, distribute and service Bluewhite’s aftermarket autonomy kits.