North American large ag equipment sales were up 28.6% year-over-year in April vs. up 22.7% in March, according to the latest data from the Assn. of Equipment Manufacturers.
The U.S. agricultural equipment markets are beginning to show signs of awakening and the prospects of increased income from grain crops should fuel growth in the larger horsepower tractor markets this year.
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.
Last month USDA announced $16 billion in direct support to farmers and ranchers along with $3 billion of commodity purchases. While Ashish Gupta, analyst for Stephens Inc., sees a possible uptick in ag equipment sales as a result of direct payments, he also sees a downside to the payments.
Titan International (TWI), manufacturer of off-highway tires and wheels, posted third quarter 2019 net sales of $345.9 million, a decrease of $38.8 million, or 10% vs. the third quarter of 2018, ended Sept. 30. On a constant currency basis, net sales would have been $351.6 million.
Titan Machinery posted solid top and bottom line increases during its fiscal first quarter as each of its business segments saw healthy growth in sales of equipment, parts and service. Its first quarter results were better than many analysts were forecasting.
CNH Industrial showed a strong year-over-year sales gain in 2018. The company reported consolidated revenues of $29.7 billion for the full year, up 7% compared to 2017. Net sales of Industrial Activities were $27.8 billion for the year, up 8% vs. 2017.
A partnership agreement between India’s International Tractors Ltd. (ITL) and Argo Tractors will result in the Italian manufacturer of Landini and McCormick equipment sourcing “utility” models from ITL for selected markets.
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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.