AGCO announced that its Board of Directors declared a regular quarterly dividend of $0.15 per common share to be paid on Mar. 15, 2019, to all stockholders of record as of the close of business on Feb. 15, 2019.
The latest report from Brazil’s Anfavea reveals that year-over-year tractor sales in December jumped by 19.2% and 11.2% compared to November 2018. For the full year, sales reached 39,301 units compared to 35,913 sold during the previous year, an increase of 9.4%.
Revenues from the sale of ag machinery were up 13% during the quarter to $211 million. For the first 9 months of the fiscal year, Titan reported farm equipment revenues increased by nearly 4% to $506 million.
Net sales in the third quarter for Raven’s Applied Technology division, which includes its precision farming business, were $29.7 million, up 17.5% year-over-year.
Worldwide net sales and revenues increased 17% to $9.4 billion for the quarter and rose 26% to $37.4 billion for the full year. Net sales of equipment operations were $8.3 billion for the quarter vs. $7.1 billion in the same quarter last year and $33.4 billion for the year vs. $25.9 billion in 2017.
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.
Investing during a period of subdued sales in preparation for an anticipated upturn is paying off at Austrian tillage and hay tools manufacturer Poettinger. For its financial year ended July 2018, the company recorded a 15% gain in turnover to €354 million ($413 million), a new record for the business.
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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.