Lemken’s positive development in North America, which now includes a fully-fledged subsidiary in the United States, contributed to the German tillage and seeding equipment manufacturer’s all-time record sales in 2021.
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.
The Company’s decrease in sales levels is the result of supply chain issues experienced during
the quarter and not a result from the lack of demand as it remains very high.
Revenue in the company's Farm Equipment & Industrial Machinery segment increased by 12.4% from the same period in the prior year to $3.9 billion and accounted for 84.2% of consolidated revenue.
Excluding the impact of our recently announced divestitures and recent changes in foreign exchange rates, our updated guidance reflects a projection of higher ARR growth, revenue and earnings," said Rob Painter, Trimble's president and chief executive officer.
"We were able to pick up right where we left off in 2021 with another stellar quarter to begin the year," stated Paul Reitz, president and chief executive officer.
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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.