"We achieved record sales for the second consecutive quarter through continued price management and strong market demand, while remaining highly focused on operational excellence and execution," said Stephen G. Kaniewski, president and chief executive officer.
Deere & Company has announced new goals, known as the Leap Ambitions, that are linked to the Smart Industrial strategy and operating model introduced in 2020.
Deere & Company reported net income of $903 million for the first quarter ended Jan. 30, 2022, or $2.92 per share, compared with net income of $1.224 billion, or $3.87 per share, for the quarter ended Jan. 31, 2021.
Domestic revenue increased by $66 million (+1.3%) from the prior year to $5.2 billion because of increased revenue in Farm & Industrial Machinery mainly due to increased sales of farm equipment, despite a decrease in revenue in Water & Environment and Other.
Mahindra & Mahindra, the global market leader in the tractor segment, may look at spinning off its farm machinery business in the hope of tapping automotive opportunities in the future.
Monarch Tractor, Livermore, Calif., demonstrated that electricity at World Ag Expo when it paired up with another startup, OnTarget, Mt. Angel, Ore., which uses electrostatic technology to provide super-precise sprays.
Valmont Industries Inc. announced that Renee Campbell, vice president, investor relations and corporate communications, has been named senior vice president, investor relations and treasurer.
Deere & Company has acquired majority ownership of Kreisel Electric Inc. as of Feb. 8, following regulatory approval. The acquisition shows Deere is moving toward electrification of its products.
Consolidated net sales totaled $24,965,000 for the 2021 fiscal year, which represents a 11.4% increase from consolidated net sales of $22,409,000 for the 2020 fiscal year.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we look at AGCO’s plans for its precision business and its 2029 targets. In the Technology Corner, Noah Newman talks with Eis Implement’s precision team. Also in this episode, the interest savings dealers could see with the latest rate cut by the Fed and a look at the used 100+ horsepower tractor market.
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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