David Meyer, Titan Machinery's Chairman and chief executive officer, stated, "We exceeded our third quarter top-line expectations due to strong parts and service performance in our Agriculture segment and better than anticipated equipment sales in our Construction and International segments."
The dealer network reported total sales of $134 million dollars in the first quarter of 2020, down $44 million compared to $178 million reported in the first quarter of 2019, a decline of 25%.
Despite seeing a slowdown in the fourth quarter of its fiscal 2020 period, annual revenues were up 3.5% on strong aftermarket results, as parts sales rose 11.1% and service grew by 14.2%. Overall, equipment sales increased by about slightly under 1%.
High Plains Equipment based in Devils Lake, N.D., has acquired Erickson Implement’s location in Carrington, N.D. Both are Case IH equipment dealerships.
Rocky Mountain Dealerships Inc., Canada's largest agriculture equipment dealer, reported its financial results for the 3 and 12 months ended Dec. 31, 2018.
The Case IH dealership expansion in Rivne, Ukraine, is a collaboration between Case IH and Titan machinery and reinforces the Case IH position in the Ukrainian market.
Executive editor Kim Schmidt checking in from Farm Equipment headquarters with an update on 2025 Dealership Minds Summit set for July 29-30 in Iowa City.
The program is out. Check it out at DealershipMindsSummit.com.
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