>Case IH dealership group Titan Machinery released preliminary 2Q results for fiscal 2025 on Aug. 14, ahead of the quarter close on Aug. 31. Revenue for the quarter is expected to be about $643 million.
While consolidated revenue for 2QFY24 increased 29.4% year over year and Ag segment revenue grew 34.4%, the company maintained its FY24 guidance that the Ag segment would be up 20-25% year over year.
Titan's operational improvements ranged from inventory management, cost reductions, footprint consolidation to a growing parts & service business resulting in near record profitability on mid-cycle sales levels.
In Ag Equipment Intelligence’s latest Dealer Sentiments & Business Conditions survey, a net 16% of dealers reported being more optimistic in September compared to August. Now that Election Day is upon us, that could swing the opposite direction depending on the results.
Farm equipment dealers who cater to row-crop operations with large ag machinery and implements have been particularly affected by the downturn in the ag economy. And the beat down goes on.
U.S. farm sector assets and equity (inflation-adjusted) are forecast to decline in 2015 for the first time since 2009. The rate of growth in U.S. farm sector assets and equity (assets minus debt) is expected to moderate in 2015 compared with recent years, and to decline for the first time since 2009 after adjusting for inflation.
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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