The Calgary, Alberta-based dealer group said that its normalized net earnings for the period rose by 110% to $6.5 million from $3.1 million a year ago.
Cervus Equipment Corp., John Deere’s largest ag machinery dealer network in western Canada reported earnings results on May 10 for the first quarter ended March 31, 2011.
USDA is forecasting that the 2011 crop — 2011 production and 2012 demand — will result in a record 13.5 billion bushels of corn production, and a 23% increase in ending corn inventories, to 900 million bushels.
“In contrast to our expectations, the wet summer evidently had no material impact on Cervus’ financial performance in the third quarter,” says Ben Cherniavsky, analyst for the Canadian investment dealer, Raymond James.
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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.