AGCO announced a regular quarterly dividend of $0.15 per common share to be paid on Dec. 14, 2018, to all stockholders of record as of the close of business on Nov. 15, 2018.
A few ag equipment companies have issued their most recent quarterly earnings reports, but most will be announced in the next few weeks. Following is a list of the farm equipment manufacturers and retailers and the dates of their upcoming or recently issued earnings reports.
Net sales for the third quarter 2018 increased 9.3% to $1.88 billion from $1.72 billion in the third quarter of 2017. Comparable store sales increased 5.1%, as compared to an increase of 6.6% in the prior year’s third quarter.
Revenue of $678.7 million was down slightly compared to last year, as revenue gains in the Engineered Support Structures, Utility Support Structures and Coatings segments were offset by lower sales in Irrigation and unfavorable currency impacts of $12.6 million (1.9% of sales).
Revenues for the fourth quarter of fiscal 2018 were $123.3 million, a decrease of 7% compared to revenues of $131.9 million in the prior year’s fourth quarter.
Art’s Way Mfg. Co., a diversified, international manufacturer and distributor of equipment serving agricultural, research and steel cutting needs, announced its financial results for the third quarter and year-to-date of fiscal 2018.
Rocky Mountain Dealerships, Canada’s largest ag equipment dealer which handles Case and New Holland-branded equipment, reported that its total second half sales increased by nearly 28%, or $66 million, to $303 million vs. $237 million in the same period last year.
Kubota Corp. registered solid sales results through the first half of the year, especially in North America. It also announced it is investing in a new R&D facility for Europe.
Titan Machinery reported its second quarter equipment sales were up nearly 15% vs. the same period last year with revenue from ag equipment up over 10%. Overall revenue increased by 11.5%. Gross profit was up by 11.6% and gross profit margin remained steady at 19.6%.
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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.