Alamo Group's Agricultural Division net sales in the first quarter of 2021 were $99.3 million compared to net sales of $84.5 million in the first quarter of 2020, an increase of 17.5%.
CNH Industrial reported first quarter consolidated revenues of $7.5 billion (up 37% compared to the first quarter 2020), net income of $425 million and adjusted EBIT of Industrial Activities of $545 million (up $693 million).
Drivetrain manufacturer Dana Inc. announced higher sales of $2.3 billion in the first quarter as a result of continued strength in the light-truck market, as well as growth in both the commercial-vehicle and off-highway markets.
AGCO reported net sales for the first quarter were approximately $2.4 billion, an increase of approximately 23.4% compared to the first quarter of 2020.
Despite “fast and decisive” implementation of infection containment measures that enabled Trelleborg Wheel Systems to keep its factories operating with a safe environment for employees, the agricultural tire and rim supplier still recorded lower net sales last year due largely to the coronavirus pandemic.
Despite the manufacturing and distribution challenges thrown up by the COVID-19 pandemic last year, German tillage equipment maker Lemken managed to record healthy sales, down less than 4% on the prior year.
Last year’s market conditions and OEM factory shutdowns contrived to put a dent in 2020 revenues at the Carraro power transmission group, ending 13% down on the year before at €487 million ($569 million) — the lowest figure since 2009.
Consolidated corporate sales for the three-month period ended Feb. 28, 2021 were $5,401,000 compared to $5,026,000 during the same period in fiscal 2020, an increase of $375,000, or 7.5%. The increase in consolidated revenue is due to increased sales in our Agricultural Products segment.
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 episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.