Calgary-based Cervus Equipment, one of John Deere’s largest ag equipment retailers with 36 store locations, reported that its consolidated revenue for the third quarter of 2019 ended Sept. 30 declined by 19% year-over-year.
Titan International (TWI), manufacturer of off-highway tires and wheels, posted third quarter 2019 net sales of $345.9 million, a decrease of $38.8 million, or 10% vs. the third quarter of 2018, ended Sept. 30. On a constant currency basis, net sales would have been $351.6 million.
CNH Industrial reported third quarter consolidated revenues of $6.4 billion, a year-over-year drop of 5%. Net sales of its agricultural segment dropped 7% vs. the third quarter of 2018.
Alamo Group Inc. (ALG) reported record net sales for a third quarter of $271.8 million, up 5.5% for the third quarter ended Sept. 30, 2019. By operating segment Industrial Division net sales of $158.5 million were up 1.1%; Agricultural Division net sales of $59.8 million were down 2.7%; European Division net sales of $53.5 million, up 35.9%.
Trimble Inc. (NASDAQ: TRMB) announced third quarter 2019 GAAP revenue of $783.9 million, down 1% compared to the third quarter of 2018. Third quarter 2019 non-GAAP revenue of $784.3 million was down 3% vs. the same period of 2018.
Rocky Mountain Dealerships (TSX:RME) Canada's largest farm equipment dealer group, posted a 21.1% decrease in total sales during the third quarter of 2019 ending Sept. 30. Sales during the period declined by $49,307 to $184,067 from $233,374 during the same period in 2018.
Raven Industries Inc. (NASDAQ: RAVN) reported financial results for the second quarter that ended July 31, 2019. Net sales for the second quarter of fiscal 2020 were $98.1 million, down 4.5% vs. the second quarter of fiscal 2019.
Cervus Equipment Corp., a 21 store John Deere dealership group, reported that overall revenue decreased 20% in the quarter, with reduced equipment sales in its Agricultural segment comprising the majority of the decrease.
Gross profit for the second quarter ended June 30, 2019, was $38.3 million, compared to $58.3 million in the comparable prior year period. Gross margin was 9.8% of net sales for the latest quarter, compared to 13.6% of net sales in the comparable prior year period.
In this episode we look at the potential impact Hurricanes Helene and Milton will have on ag production as well as the dealers and manufacturers in the impacted region.
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