David Meyer, Titan Machinery's chairman and chief executive officer, stated, "Equipment demand momentum continued through our second fiscal quarter with our equipment revenues increasing 35% vs. prior year."
Deere & Company reported net income of $1.790 billion for the second quarter ended May 2, 2021, or $5.68 per share, compared with net income of $666 million, or $2.11 per share, for the quarter ended May 3, 2020.
Cervus delivered $15 million in adjusted income before tax, a record for the second quarter and a significant increase of $7 million or 84%, compared to $8 million generated in the same period last year.
Revenue for the quarter was $79.2 million, up $2.6 million from the prior year third quarter, representing an 3% increase over the prior year and continuing the sales growth seen in the first two quarters.
For the 6 months ended June 30, 2021, revenue of Kubota Corporation and its subsidiaries increased by $1.9 billion (+24.6%) from the same period in the prior year to $10 billion.
AGCO reported its results for the second quarter ended June 30, 2021. Net sales for the second quarter were approximately $2.9 billion, an increase of approximately 43.5% compared to the second quarter of 2020.
Alamo Group, the manufacturer of Rhino Ag, Bush Hog and other shortline equipment brands, reported its second quarter 2021 net sales of $347.6 million vs. $268.6 million in the second quarter last year, up 29% year-over-year.
First-half results just signed off by directors of the Carraro Group show a strong recovery from the impact of COVID-19 suffered in the first 6 months of 2020, with a turnover figure that exceeds the 2019 half-year 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.