Valmont has reported net sales of $734 million increased 6.3% led primarily by significantly higher Utility Support Structures segment sales and improved international market demand.
In addition to the earnings reports covered in this issue, other equipment ag manufacturers released earnings for the second quarter 2020 in recent weeks.
For the three months ended March 31, 2020, revenue of Kubota Corporation and its subsidiaries decreased by ¥41.2 billion ($380 million) or 8.6% from the same period in the prior year to ¥439.5 billion ($4.1 billion).
Ag Growth International’s (AGI) results for the first quarter of 2020 ended March 31 showed trade sales in the quarter increased $12.7 million or 6% over first quarter 2019 due to strong farm sales in the U.S. and the recent acquisition of Milltec in India.
CNH Industrial reported on May 6 that its consolidated revenues for the first quarter 2020 ended March 31 were $5.5 billion, down 15% vs. the first quarter 2019. The company reported a net loss of $54 million compared to net income of $264 million for the same period last year.
Compact agricultural wheel loaders delivered revenue growth for Germany’s Wacker Neuson Group last year as a European distribution agreement with John Deere continued to expand.
Based in a new $10 million headquarters at its Dobris plant in the Czech Republic, Doosan Bobcat EMEA recorded a 12.8% increase in revenues from €765 million ($732 million) in 2018 to €863 million ($936 million) last year.
A $630 million revenue bonus from last year’s acquisition of the Oerlikon group’s drive systems operation helped Dana Inc., increase turnover with off-highway and commercial vehicle OEMs in 2019, despite markets for heavy equipment turning soft during the latter part of the 12 month period.
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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.