Braveheart Resources announced that Peter A. Lacey, ICD.D has agreed to join the Board as an Independent Director of the Company. Brian Murray, one of the co-founders of Braveheart and its longest standing Director has notified the Company of his intention to retire.
Brandt Tractor announced it has successfully acquired Cervus Equipment Corp., following a 97.66% endorsement for the deal in an Oct. 12, 2021 vote by Cervus shareholders.
In mid-August, before the market opened and ahead of reporting its second quarter earnings, Cervus Equipment announced it had agreed to be acquired by Brandt Tractor.
In this podcast, we report on Cervus Equipment's record second quarter earnings as well as the dealership's announcement that it has agreed to be acquired by Brandt Tractor. In the Technology Corner, Michaela Paukner discusses Purdue University's new precision ag course for high school teachers. Also in this episode: AGCO CEO Eric Hansotia says they are positioning Challenger as a "track tractor" brand, dealer optimism drops amid inventory challenges and Deere's third quarter earnings report.
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.
Cervus Equipment, John Deere’s largest Canadian dealership group, reported $3.2 million in adjusted income before tax, up significantly from just $0.5 million in the first quarter of 2020.
Cervus Equipment finished off 2020 with revenue growth both for the fourth quarter and the full year. Overall, Canada’s largest John Deere dealership group reported 8% revenue growth for the year.
Cervus Equipment will be combining its Red Deer and Olds John Deere dealership locations into a new 44,000 square foot facility that will be built near Penhold, Alta. The new facility is anticipated to be in service in early 2022.
Cervus Equipment Corporation has announced the appointment of Catie Busch as Chief Financial Officer effective April 1, 2021, having previously served as the Company’s Senior Director of Finance and Public Markets.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.