While consolidated revenue for 2QFY24 increased 29.4% year over year and Ag segment revenue grew 34.4%, the companymaintained its FY24 guidance that the Ag segment would be up 20-25% year over year.
The company's net income was up 29% from the same period last year. Diluted EPS saw 30% year-over-year growth. Net sales of ag equipment grew by 4% year-over-year.
The company is off to a strong start to the 2024 fiscal year according to David Meyer, chairman and CEO. He added that the ag segment continues to drive growth.
Engine maker Deutz saw a welcome turnaround in demand and deliveries of diesel engines to agricultural and construction machinery OEMs last year, following a hiatus in the first year of the Covid-19 pandemic.
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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.