Total U.S. agricultural machinery exports for first quarter 2014 totaled $2.185 billion compared to $3.04 billion in the first quarter of 2013 a decline of 28.1%, according to the Assn. of Equipment Manufacturers (AEM), citing U.S. Department of Commerce data.
AGCO, (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment, reported net sales of approximately $2.3 billion for the first quarter of 2014, a decrease of approximately 2.9% compared to net sales of $2.4 billion for the first quarter of 2013.
Despite a decline in quarterly revenues, the company's shares rose 14.8% on the day to $18.14. It beat Capital IQ fourth quarter fourth quarter EPS estimates of 20 cents per share by 15 cents, reporting an EPS of 35 cents for the quarter.
AGCO (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment, reported net sales of approximately $2.9 billion during the fourth quarter of 2013, an increase of approximately 5.8% compared to net sales of $2.7 billion for the fourth quarter of 2012.
Yesterday, USDA reported 66% of the corn crop is in good or excellent condition, down 2% from last week's 68%, but a big improvement over last year's 31%.
Compared to last year at this time, the condition of the corn and soybean crops are in better shape this year, while winter and spring wheat appear to be holding their own, according to yesterday's USDA Crop Progress report.
The Equipment Leasing and Finance Association (ELFA) which represents the $725 billion equipment finance sector, today revealed its Top 10 Equipment Acquisition Trends for 2013.
Rocky Mountain Dealerships Inc. ("Rocky"), announced today that it has entered into an agreement to purchase 100% of the issued and outstanding shares of MJ Solomon Ltd., operating as "Murray's Farm Supplies" ("Murray's").
Greg Petras, president of Kuhn North America, says despite the current market challenges the company is continuing to invest in its facilities, people and products.
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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