Net sales, net income and earnings per share were all at record levels for Alamo Group for the second quarter and for the first 6 months of 2019, both with and without the effects of the acquisition of Dutch Power.
Alamo Group's net sales for the first quarter of 2019 were $261.9 million compared to net sales of $238.1 million in the first quarter of 2018, an increase of 10%. Net income for the quarter was $15.3 million compared to net income of $14.6 million, an increase of 4.6% in net income.
In this week’s episode of On the Record we discuss a “youth movement” among Deere & Co.’s senior leadership. In the Technology Corner, Jack Zemlicka discusses broadband barriers to telematic transformation. Also in this episode: grower sentiment falls, but USDA’s Economic Research Service reports net farm income is forecast to increase 8.1% in 2019; Alamo Group’s 2018 hit $1 billion for the first time and Ag Growth International acquires IntelliFarms.
Alamo Group reported net sales for the fourth quarter of 2018 were $256 million compared to net sales of $243.3 million in the fourth quarter of 2017, an increase of 5.3%.
The Alamo Group of Seguin, Texas, says it has entered into an agreement to acquire 100% of the outstanding capital shares of Dutch Power Co .B.V., a privately held equipment manufacturer based in the Netherlands.
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.
In this podcast, we examine the lawsuit the Assn. of Equipment Manufacturers and the major OEMs have filed to stop the North Dakota “Dealer Bill of Rights” law from going into effect, Krone’s decision to cancel its plans to relocate its headquarters, the unique challenges of remarketing precision farming equipment and the latest earnings reports from Rocky Mountain Equipment and Alamo Group.
In today’s newscast, we examine the lawsuit the Assn. of Equipment Manufacturers and the major OEMs have filed to stop the North Dakota “Dealer Bill of Rights” law from going into effect, Krone’s decision to cancel its plans to relocate its headquarters, the unique challenges of remarketing precision farming equipment and the latest earnings reports from Rocky Mountain Equipment and Alamo Group.
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There was plenty of technology on display at the World Dairy Expo in Madison, Wis., a few weeks ago. Farm Equipment editor Mike Lessiter caught up with Monarch Tractor’s John Issacson and got his take on the top 5 applications in autonomy right now.