Canadian Dealers Release Q2 Numbers

Both publicly traded Canadian farm equipment dealerships recently released earnings reports from their quarters ending June 30, and both posted revenue gains.

Cervus saw a 26 percent increase in sales and a 21 percent increase in revenue compared to the same quarter last year. Revenue for the quarter set a record.

Income for the quarter increased a staggering 237 percent from $2.5 million in 2016 to $8.4 million this year.

Rocky Mountain Dealerships Inc. reported total sales increased by 2 percent compared to the same quarter last year. Gross profit increased by 4.3 percent.

President and CEO Garrett Ganden said the company’s “disciplined approach to sales and inventory management continues to improve our inventory turns and strengthen our balance sheet.”

Sources: Canada Newswire, Rocky Mountain Dealerships Inc.