CNH Industrial N.V. has reported results for the three months ended March 31, 2024, with net income of $402 million and diluted earnings per share of $0.31 compared with net income of $486 million and diluted earnings per share of $0.35 for the three months ended March 31, 2023. Consolidated revenues were $4.82 billion (down approximately 10% compared to Q1 2023) and Net sales of Industrial Activities were $4.13 billion (down approximately 14% compared to Q1 2023). Net cash used in operating activities was $894 million and Industrial Free Cash Flow absorption was $1,209 million in Q1. First q ..read more

AGCO a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, reported net sales of $2.9 billion for the first quarter ended March 31, 2024, a decrease of 12.1% compared to the first quarter of 2023. Reported net income was $2.25 per share for the first quarter of 2024, and adjusted net income was $2.32 per share. These results compare to reported net income of $3.10 per share and adjusted net income of $3.51 per share, for the first quarter of 2023. Excluding favorable fo ..read more

Congratulations to Glendon Kuhns, Vice President at Norden Mfg. in North Bloomfield, OH, who was recently elected to the Board of Directors of the Farm Equipment Manufacturers Association at the Supply Summit & Showcase in Little Rock, AR. We eagerly anticipate the valuable leadership he will bring to our Association!  ..read more

CNH leadership continues to work diligently with the IAM to reach an agreement for our Fargo plant. While the existing contract expired at midnight on April 28, 2024, the parties have agreed to extend the contract through Friday, May 3, 2024, to allow additional time for an agreement to be reached. Nearly 700 members of the International Association of Machinists and Aerospace Workers (IAM) Local 2525 (District 5) at Case New Holland (CNH) in Fargo, N.D., have rejected the company’s offer, according to an April 29 press release from the union. The current agreement has been extended until Frid ..read more

Farm Loans Soared to Record Level April 2024 Survey Results at a Glance: For an eighth straight month, the overall Rural Mainstreet Index (RMI) sank below growth neutral, according to the April survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy. Overall: The region’s overall reading for April increased to 45.8 from 38.0 in March, or its lowest level since June 2020. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral. “Higher interest rates, weaker agriculture commodity prices and higher grain storage costs pus ..read more

A visit to the American Foundry Society’s Metalcasting Congress last week in Milwaukee turned up equipment design news ductile iron casting supplier Lethbridge Iron Works of Alb., Canada. An independent panel of judges recognized the Lethbridge part as the “best example of a casting conversion” and was on display for AFS’ national event that drew close to 3,000 attendees. It was also the only ag equipment application honored among the annual Casting of the Year program. Dylan Bruins, Business Development Lead of Alberta-based Lethbridge Iron Works, described the award-winning row cleaner shoe ..read more

Behind BC Technologies is a team of passionate individuals dedicated to building lasting customer relationships and creating eternal value. Their goal is to bridge the industry shortage and ensure the highest quality experience at all levels. Founded by an engineer who witnessed the supply struggles firsthand, and an educator who thrives on building flourishing customer relationships, BC Technologies has a unique perspective on the wire harness industry. The company specializes in wire harnesses for agriculture and industrial equipment. Their wire harnesses are built-to-print to meet the speci ..read more

Compact tractors do real work! That is why Tractor Tools Direct is excited to announce an expansion of their company that will allow their customers – small-acreage farmers, land managers, foresters, and producers of hay and pine straw – to get even more work out of their beloved compact and subcompact tractors. This expansion is their acquisition of Ai2 Products from Minnesota. Ai2 Products is a designer and manufacturer of custom compact utility tractor attachments for Kubota compact and subcompact tractors. Owned and operated by Tony Ashwill, Ai2 is best known for its flagship product, the ..read more

Kongskilde Industries, a pioneer in pneumatic technology, proudly announces the celebration of its 75th anniversary in 2024. Established in 1949 by the visionary minds of Mr. Petersen and Mr. Tyndeskov, the company has grown from a modest operation in a small town near Copenhagen to a global leader in its field. One of the earliest Kongskilde blowers, pioneering the movement of grain on farms. Throughout its illustrious history, Kongskilde Industries has remained dedicated to innovation and excellence. From humble beginnings of selling blowers out of a car, the company has expanded its footpr ..read more

In an April 16 press release, Alamo Group said it was notified on April 14, 2024 that the unionized workers at its subsidiary, Gradall Industries LLC, located in New Philadelphia, Ohio, elected to strike after failing to reach a labor agreement. Gradall Industries manufactures wheeled and crawler telescopic excavators, and the strike does not impact any of Alamo Group’s ag equipment manufacturing. The approximately 200 workers are part of the International Association of Machinists and Aerospace Workers (IAM), District Lodge 54, Local Lodge 1285. Alamo Group employs approximately 4,350 employe ..read more