Rocky Mountain Dealerships (RME) reported on March 11 that its fourth quarter 2019 sales declined 26%, which was just slightly better than full year results that saw sales drop by 26.3%.
Continued adoption and integration of new technologies to improve crop yields and meet the soaring demand for food are expected to be key influencers for growth in the agriculture market, according to a new study, Vertical Market Outlook Series: Agriculture Equipment released by the Equipment Leasing & Finance Foundation.
According to the Assn. of Equipment Manufacturers’ latest sales figures covering the first half of the year, only mid-size tractor sales during the first 6 months of 2019 showed a deficit compared to the first 6 months of 2018.
Revenues for the third quarter of fiscal 2019 were $121.1 million, a decrease of $48.5 million, or 29%, compared to revenues of $169.6 million in the prior year third quarter.
While farm equity is only down 5% since 2014, farmers are tapping into their real estate equity to run operations and real estate debt hit a record high in 2018.
The Purdue University/CME Group Ag Economy Barometer declined moderately in December to 127, which was 7 points below the index’s value one month earlier and 9 points below October’s reading.
Over the past several months, the U.S. has enacted tariffs on other nations and those countries have in turn retaliated with trade restrictions of their own. This prompted Ag Equipment Intelligence editors to add a question regarding these trade disputes as part of the 2019 Dealer Business Outlook & Trends survey.
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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.