Alamo Reports Record 2022 Year End & Q4 Results
Alamo Group Inc. reported results for the fourth quarter and year ended December 31, 2022.
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Earnings Report
Kubota’s Revenue Hits $8.2 Billion
For the year ended Dec. 31, 2022, revenue of Kubota Corp. and its subsidiaries increased by $3.6 billion (+21.9%) from the prior year to $19.97 billion.
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Deere Reports Q1 Earnings
Deere & Company reported net income of $1.959 billion for the first quarter ended January 29, 2023, or $6.55 per share.
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CLAAS Reports Over $5 Billion in 2022 Net Sales
According to CLAAS’ 2022 annual report, the company earned €4.93 billion in net sales last year, around $5.2 billion.
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AGI Reports Earnings for Q4, Year
In the farm segment, sales grew 28 percent in Q4. Farm backlog is up 48 percent over the prior year.
Read moreKubota Highlights Gains in North America, Ag Sales
The company plans a 6 percent increase in the price of tractors in North America and 5 percent increase in construction machinery.
Read moreTitan International Reports 40-Plus Percent Sales Gain
The increases reflected sales gains in all segments, most notably agriculture, along with pricing gains.
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Deere Improves Forecast, Expects Demand to Continue
Order books for the upcoming year are mostly full, Deere said, except for a few cases where it has paused orders to reevaluate inflationary pressures later in the year.
Read moreAGCO Reports Q4, Year Results
Increased sales of high horsepower and mid-range tractors as well as precision planting products represented the largest increases for the company.
Read moreKubota Equipment Sales Up 28 Percent
In North America, sales of tractors and construction machinery increased significantly due to strong demand along with growth in suburban development.
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CNH Shows 35 Percent Sales Gain for the Year
In North America, demand was up 10 percent for tractors under 140 HP and up 23 percent for tractors over 140 HP. Combines were up 25 percent.
Read moreArt’s Way Ag Sales Approach 30 Percent Increase
The company also reported an 18 percent gain in labor output on roughly the same amount of wages in 2021.
Read moreYear at CNH Shows 35 Percent Sales Growth
CNH Industrial said the increase in net sales was driven by higher demand, better mix, and favorable price realization.
Read moreAGCO Reports Sales Numbers
Increased sales of high horsepower and mid-range tractors as well as precision planting products represented the largest increases.
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Art’s Way: Increase in Ag Sales Approaches 30 Percent
“We overcame ongoing challenges with the supply chain, skilled labor shortages and the impacts of COVID-19 to deliver to our customers,” said President and CEO David King.
Read moreClaas Reports Nearly 20 Percent Rise in Revenue
In its outlook, Claas said it expects the supply situation and price development on the procurement markets to present a greater risk in 2022.
Read morePoettinger Hits Record Sales in Milestone Year
Sales revenue in Canada increased by 48 percent at Poettinger, which drove a record in sales during the company’s 150th year.
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Revenue Dips, Gross Profit Climbs at Buhler
The company stated that demand for products remains strong and it is working to increase production to meet the growing order backlog.
Read moreAGCO’s Q3 Shows Biggest Gains in South America
Broken down by region, AGCO reported a 36.6 percent increase in sales in South America and an 8.5 percent increase in North America for the quarter.
Read moreCNH Expects Disruptions to Ease in 2022
The company said supply chain disruptions contributed to a $700 million cash burn in the third quarter.
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AGI’s Backlog Triples on Farm Equipment Orders
Farm segment trade sales grew 11 percent. Farm backlog is up 202 percent over prior year as of Sept. 30.
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Art’s Way Reports 27 Percent Sales Increase in Q3
The company saw a 71 percent increase in grinder mixer sales, a 60 percent increase in beet equipment sales, and a 13 percent rise in manure spreader sales for the year to date.
Read moreTitan Raises Forecast
“We currently have customer commitments for the majority of our new machinery orders being shipped in Q3 and Q4 of FY ’22,” the COO said. “And we are also finishing presale customer orders for production slots into the first of FY ’23.”
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Deere Forecasts Big Jump in Large Equipment Sales
In small agriculture and turf, net sales increased by 32 percent, and operating profits climbed 73 percent.
Read moreAlamo Execs Talk Supply Prices in Earnings Call
“While we’re pleased to see this improvement, we would normally expect a double-digit operating margin percentage,” an executive said of operating income that was 9.7 percent of net sales.
Read moreStellar Quarter at Alamo Diminished by Cost Increases
The company reported operating income was 9.7 percent of net sales, which is a 48 percent increase over the prior year quarter but perhaps below expectations because of volatile pricing on the supply side.
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AGCO Earnings Shows Big Gains in Big Equipment
Demand for high-horsepower tractors exceeded demand for low-horsepower tractors and drove a 24 percent increase for the first half of the year.
Read moreTitan International Sees Best Quarter Since 2013
The company sees momentum in large farm products, and because the big equipment market is “still roughly 25 percent below long-term averages,” it expects that momentum to continue.
Read moreCNHI: Rising Input Costs Will Be Offset by Price Realization
The company’s order book in agriculture more than doubled year over year for tractors, particularly in North America, and more than tripled for combines.
Read moreValmont Expects Huge Increase in Irrigation Sales
In its irrigation segment, the company reported a 57.6 percent increase in sales compared to 2020.
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Art’s Way Reports Strong Quarter, Half-Year
In agriculture, second quarter sales increased by 25.6 percent. Year-to-date ag sales increased by 22.1 percent.
Read moreDeere Sees Upswing in Sales of Larger Models
The sale of farm and turf equipment climbed 8 percent in the second quarter, Deere said, and the company expects sales for the year to climb by up to 15 percent.
Read moreTitan Expects Hot Market to Continue
CEO Paul Reitz said he expects upward trends in the agricultural sector to continue, “ and in some cases even improve throughout 2021 into 2022.”
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Linamar Boasts Strong Q1, Credits MacDon
CEO Linda Hasenfratz forecasts double-digit growth for MacDon this year and continued growth in 2022.
Read moreNet Sales in Ag Rise 17.5 Percent at Alamo
In spite of what CEO Ron Robinson characterized as “interesting times” resulting from pandemic business disruptions, he said the company is “rebounding nicely.”
Read moreBuhler Reports Quarterly, Six-Month Earnings
The company continues to project sales growth this year. Sales backlog remains high as Buhler works through supply chain challenges.
Read moreValmont: Double-Digit Sales Increases, Record Backlog
In its second quarter outlook, Valmont expects net sales to increase by 17 to 20 percent compared to last year.
Read moreAGCO Reports Strong First Quarter
Increased sales of tractors, parts, grain and protein equipment, and precision planting products generated most of the increase.
Read moreTractor Supply Reports Big First Quarter
The company’s e-commerce sales experienced triple-digit percentage growth for the fourth consecutive quarter.
Read moreFarm Equipment Sales Improve at Art’s Way
Sales for the quarter that ended Feb. 28 increased by 7.5 percent compared to the first quarter of 2020.
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Ag ‘Led the Way’ for Alamo in 2020
Alamo sees promising signs in the ag economy as well as challenges tied to operational issues.
Read moreAg ‘Led the Way’ for Alamo Group in Q4
For the quarter, net sales in agriculture increased by 10.5 percent. CEO Ron Robinson reports a strong backlog in ag orders.
Read moreValmont Sees Dramatic Increases in Q4, Year
Global sales in the ag irrigation segment increased by 49.8 percent year-over-year. North American sales increased by 14.8 percent.
Read moreBuhler Reports Promising First Quarter
Based on backlog and order activity, the company is optimistic about 2021.
Read moreDeere Posts 23 Percent Gain in Earnings
The company last week reported equipment operation net sales increased by 23 percent for the quarter ending Jan. 31. Net income for the quarter soared by 124 percent.
Read moreAGCO Sees Gains in Q4
Net sales for AGCO increased by about 8 percent for the fourth quarter of 2020. Net sales for all of 2020 increased by 1.2 percent.
Read moreArt’s Way Announces FY20 Results
In agriculture, net sales declined by 3.1 percent in 2020, which the company primarily attributes to the loss of low-margin OEM business.
Read moreDeere Closes Year Optimistic About Ag in 2021
In the U.S. and Canada, the company’s forecast calls for a 5 to 10 percent gain in sales in farm equipment in the new year.
Read moreAGI Sees Record Third Quarter
North American commercial sales were the exception in an otherwise standout quarter. Farm sales increased by 24 percent.
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Ag Sales at Art’s Way See Double-Digit Gains in Q3
“In a year with much disruption and many challenges, we were encouraged to see several significant positive trends in the third quarter,” said Chairman of the Board Marc H. McConnell.
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