Earnings Reports

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Roundup of the Latest Quarterly Earnings

Ag equipment manufacturers and dealers have in recent weeks released their quarterly earnings. Sales for equipment manufacturers and/or their agricultural segments largely improved the last three months. Meanwhile, Canada’s largest dealership network announced it was opening a used equipment outlet in Kansas, marking the most recent step in its foray into the U.S. in accordance with its 5 year growth plan.
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Maschio Gaspardo Increases Sales 11%, Returns to Profitability

One of Italy’s leading agricultural implement manufacturers increased sales and returned to profit last year, bringing a positive note to a difficult period for the Maschio-Gaspardo group following the death of one of its founders. The business recorded an 11% increase in revenues, up from the equivalent of $335 million in 2016 to $373 million at current exchange rates.
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Rocky Mountain Dealerships 3Q18 Earnings Slip 2%; To Open Used Equipment Outlet in Kansas

On the financial side, RME reported that total sales decreased 2.3% or $5.4 million to $233.4 million compared with $238.8 million for the same period in 2017. Gross profit declined by 6.6% or $2.6 million to $36.2 million from $38.8 million for the same period in 2017. Early snowfalls across the Canadian Prairies stalled harvest activity throughout mid- to late-September, decreasing in-season demand across all categories.
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While Ag Sales Rise 4%, CNHI 3Q18 Revenues Flat

CNH Industrial reported 2018 third quarter consolidated revenues of $6.7 billion, with net income up 285% to $231 million.
CNH Industrial N.V. today announced consolidated revenues of $6,686 million for the third quarter of 2018, in line with the third quarter of 2017. Net sales of Industrial Activities were $6,245 million in the third quarter of 2018, flat compared to the third quarter of 2017 (up 4% on a constant currency basis). Agricultural Equipment’s net sales increased 4% in the third quarter of 2018 compared to the third quarter of 2017 (up 8% on a constant currency basis).
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