Cervus Equipment, John Deere’s largest ag equipment dealership group in Canada, posted strong results for the first quarter of 2020 ended March 31. The company reported new equipment revenue increased 21% in the first quarter of 2020 compared to the same quarter of 2019.
Cervus Equipment Corp. Board of Directors has announce that Angela Lekatsas will succeed Graham Drake as president and Chief Executive Officer of the company upon his planned retirement on May 15, 2019.
Ag equipment manufacturers and dealers have in recent weeks released their quarterly earnings. Sales for equipment manufacturers and/or their agricultural segments largely improved the last three months. Meanwhile, Canada’s largest dealership network announced it was opening a used equipment outlet in Kansas, marking the most recent step in its foray into the U.S. in accordance with its 5 year growth plan.
Cervus achieved record third quarter equipment sales in our Agriculture segment, increasing 9% compared to the third quarter of 2017, while equipment gross profit margins contracted.
Cervus Equipment Corp., John Deere’s largest Canadian dealer of farm machinery (33 locations in 3 countries) announced its financial results for the second quarter 2017, which ended June 30, 2017.
Canadian dealer groups Rocky Mountain Dealerships and Cervus Equipment Corp. reported their second quarter financial results on Aug. 9 and 10, respectively.
Both of Canada’s two publicly held farm equipment dealership groups posted their earnings since the beginning of the month: Rocky Mountain Dealerships (RME) on May 2 and Cervus Equipment (CVL) on May 11.
Cervus Equipment Corp. (CVE) posted an increase in total ag equipment revenue of 16% for the period ending Sept. 30 and 19% through the first 9 months of 2015. During its third quarter, John Deere’s largest farm machinery dealer in Western Canada registered strong sales across the board: equipment revenues were up 13% (new –3%, used +44%), parts +29%, service +42%, rental and other +47%.
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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.