Net income was $91 million in the second quarter of 2019, a decrease of $11 million compared to the second quarter of 2018 primarily attributable to pricing and the one-time credit loss provision releases incurred in 2018.
Net sales, net income and earnings per share were all at record levels for Alamo Group for the second quarter and for the first 6 months of 2019, both with and without the effects of the acquisition of Dutch Power.
According to RME, once seeding was completed, market sentiment turned sharply negative as a result of broad macro-economic and political uncertainty coupled with significantly reduced sales across all departments.
Overall, net sales for the first 6 months of 2019 were approximately $4.4 billion, a decrease of approximately 2.8% compared to the same period in 2018.
Ag and construction equipment wheel and tire maker Titan International reported 3.5% fall off in revenue driven by sales decreases in each of its major business segments, including agriculture, earthmoving & construction and consumer.
Alamo Group's net sales for the first quarter of 2019 were $261.9 million compared to net sales of $238.1 million in the first quarter of 2018, an increase of 10%. Net income for the quarter was $15.3 million compared to net income of $14.6 million, an increase of 4.6% in net income.
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.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
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