After struggling with shrinking sales and revenues since 2014, the Big 3 of ag equipment — AGCO Corp., CNH Industrial and Deere & Co. — each posted the strongest results they’ve seen in a while.
Dealers who handle AGCO-branded equipment expect flat sales in the year ahead making them the most optimistic for 2015, according to the most recent Ag Equipment Intelligence Dealers Sentiments & Business Conditions Update report.
The results of Ag Equipment Intelligence's latest dealer survey show that North American farm equipment dealers continue to see a softening in ag equipment sales.
When Ag Equipment Intelligence surveyed farm equipment dealers a year ago, John Deere dealers, as a group, were the most optimistic with 56.5% expecting sales revenues to increase by 2% or more for 2013.
With strong first-quarter sales performances in North and South America, AGCO beat both top and bottom line estimates, improved its operating margins, but still fell short on profits.
You can’t help but notice that farm equipment makers, especially the major full-line companies, are rushing to set up manufacturing and sales facilities overseas. And we’ve all heard about the growing number of mouths that farmers will have to feed over the next several decades.
AGCO posted net sales of $2.7 billion in the fourth quarter that ended on December 31, 2012, up nearly 7.4% from $2.52 billion in the fourth quarter of 2011.
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There was plenty of technology on display at the World Dairy Expo in Madison, Wis., a few weeks ago. Farm Equipment editor Mike Lessiter caught up with Monarch Tractor’s John Issacson and got his take on the top 5 applications in autonomy right now.