More than 1,000 farm equipment dealers from 10 European countries participated in a survey aimed at ranking the major tractor brands based on 14 criteria.
Fourth-quarter earnings increase 54%; net sales rise 18% to $8.3 billion. Forecast for 2019 calls for net income of approximately $3.6 billion on sales gain of about 7%.
According to an Ag Equipment Intelligence report, lawn and garden equipment, 2WD mid-size tractors and 2WD compact tractors are best bets for improving unit sales in 2019.
“Our outlook for fiscal 2019 remains intact despite a slower start to the year than we had anticipated,” stated Todd J. Teske, chairman, president and chief executive officer.
Net sales for the third quarter 2018 increased 9.3% to $1.88 billion from $1.72 billion in the third quarter of 2017. Comparable store sales increased 5.1%, as compared to an increase of 6.6% in the prior year’s third quarter.
U.S. sales of under 40 horsepower tractors were up 2% compared with September of last year. Year-to-date U.S. sales of 40-100 horsepower tractors were up 1.5% year-to-date and down 7% compared with September of last year.
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