Following a particularly difficult quarter where revenues rose only 1%, Titan Machinery, the Fargo, N.D.-based retailer of farm and construction equipment lowered its outlook for annual revenue, net income and earnings per share. With equipment inventories up 12% year-over-year, the company said it plans to reduce product backlogs by $90 million in the final quarter of the year, and by $250 million during fiscal year 2015.
While overall equipment sales declined 3.2% for the period…
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In this episode of On the Record, brought to you by Associated Equipment Distributors, we look at AGCO’s plans for its precision business and its 2029 targets. In the Technology Corner, Noah Newman talks with Eis Implement’s precision team. Also in this episode, the interest savings dealers could see with the latest rate cut by the Fed and a look at the used 100+ horsepower tractor market.
