Titan Machinery Inc. (Nasdaq: TITN) reported financial results for the fiscal first quarter ended April 30, 2020, which included first quarter revenues of $310.2 million compared to $278.3 million in the same period a year earlier.
January 2019 saw increases in U.S. sales of self-propelled combines and 4WlD tractors as well as total U.S. 2WD tractor sales compared to January last year, according to the latest data from the Assn. of Equipment Manufacturers (AEM).
While more optimistic than they were a year ago, North American farm equipment dealers continue to acknowledge that booming machinery sales in 2018 probably isn’t in the offing. But the fact that their wholegoods inventory levels have improved significantly from a year ago is creating a more level playing field in which to operate.
Sales of large 4WD tractors finished 2017 on a high note, but other big ag equipment — row-crop tractors and combines — ended the sales year in “flat” fashion, according to the latest figures released by the Assn. of Equipment Manufacturers.
Stronger than expected sales of agricultural and light construction machinery was the basis for managers at Kubota to increase their forecast for year-end revenues.
With July weather being a critical factor in overall crop production trends, industry observers rated the report “mixed” or “neutral” for sales of farm equipment.
The fall off in worldwide farm machinery sales has shown up in the export of U.S.-made ag equipment, according to a June 5 report from the Assn. of Equipment Manufacturers.
After averaging an annual growth rate of 11% since 2009, worldwide ag equipment sales are expected to take a breather this year, according to Frankfurt, Germany-based VDMA Agricultural Machinery Assn.
The impact of the rapid escalation of wheat prices on the sale of farm machinery will not be felt in 2010, according to Robert McCarthy, machinery analyst for RW Baird.
With ethanol using slightly more than one-third of all corn produced in the U.S., it has been the single largest factor in rising prices for corn in recent years.
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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.