Equipment Roundup

In this Equipment Roundup, DTN/Progressive Farmer looks at drones Case IH and New Holland are launching in Brazil, Deere's latest quarterly report, AGCO's investments in a startup fund, a new Midland handheld radio and Oshkosh's purchase of AUSA.

CASE IH, NEW HOLLAND DRONE

CNH Industrial brands, Case IH and New Holland, are introducing branded spraying drone systems in Brazil, with sales beginning the second half of this year.

The drones are offered in two models, 30 liters and 70 liters (7.9 to 18.5 gallons), the latter is the largest capacity drone on the market, say both New Holland and Case IH in press releases. The drones are the result of a partnership between CNH/New Holland/Case IH and one of the largest companies in the spraying drone segment, Chinese company XAG.

Mainly aimed at small and medium-sized producers, the drones have applications in larger operations, as well. For example, the Case IH/New Holland Spray Drone may be used in areas with irregular topography, where a heavier sprayer would have difficulty entering. On land with smaller plots, the drone also has an advantage over the long booms of a self-propelled sprayer.

This drone operates autonomously with a pre-loaded flight plan. It requires one person to monitor, change batteries and reload.

Case IH and New Holland are planning to expand distribution of the drone to the rest of Latin America and Pacific regions where there is greater demand.

DEERE REPORTS $2.370 BILLION NET INCOME

Deere & Company has reported net income of $2.370 billion for the second quarter ended April 28, 2024, or $8.53 per share, compared with net income of $2.860 billion, or $9.65 per share, for the quarter ended April 30, 2023.

For the first six months of the year, net income attributable to Deere & Company was $4.121 billion, or $14.74 per share, compared with $4.819 billion, or $16.18 per share, for the same period last year.

Deere says worldwide net sales and revenues decreased 12%, to $15.235 billion, for the second quarter of 2024 and decreased 9%, to $27.420 billion, for the six months of its current fiscal year. Net sales were $13.610 billion for the quarter and $24.097 billion for six months, compared with $16.079 billion and $27.481 billion last year.

"John Deere's second-quarter results were noteworthy in light of continued changes across the global agricultural sector," John C. May, chairman and chief executive officer, said in a Deere release. "Thanks to the dedication and hard work of our team, we continue to demonstrate structurally higher performance levels across business cycles and are benefitting from stability in construction end markets amid declining agricultural and turf demand."

Net sales in Deere's production and precision agriculture segment declined 16% in the second quarter of 2024 compared to the second quarter of 2023. Net sales are $6.581 billion in the second quarter of this fiscal year. Net sales were $7.822 billion in the second quarter of last year.

Deere is projecting net sales in its production and precision ag segment to be down 20% to 25% for the fiscal year 2024 with declines in sales projected across nearly all its markets--U.S., Canada, Europe and South America.

Net income attributable to Deere & Company for fiscal 2024 is forecasted by the company to be approximately $7.0 billion. That's compared to $10.166 billion in fiscal 2023 and $7.131 billion in fiscal year 2022.

"We are proactively managing our production and inventory levels to adapt to demand changes and position the business for the future," May says. "Despite market conditions, we are committed to our strategy and are actively investing in and deploying innovative technologies, products, and solutions to ensure our customers' success."

AGCO INVESTS IN INNOVA AG

AGCO is investing in the Innova Ag Innovation Fund VI of venture capital firm, Innova Memphis. This fund investment is the first executed by AGCO's recently launched corporate venture capital initiative, AGCO Ventures.

The Innova team is renowned for its focus on nurturing early-stage startups in agriculture. Through this partnership, AGCO intends to leverage Innova's expertise in identifying and supporting high-potential startups at the forefront of agricultural technology.

"This partnership enables us to tap into the latest innovations in the field, from automation and digitization to sustainability and efficiency, ensuring that we continue to provide our customers with the most advanced and effective solutions on the market," says Seth Crawford, AGCO Senior Vice President and General Manager, PTx.

MIDLAND RELEASES REPEATER-CAP HANDHELD RADIO

Midland, a producer of two-way radio communication technology, is announcing its new GXT67 GMRS 5-Watt two-way radio. The GXT67 PRO is Midland's first repeater-capable handheld radio. This feature allows users to amplify the signal range, overcome obstacles, and extend communication distances in challenging terrains.

The GXT67 PRO is available for $199.99. For more information visit https://midlandusa.com/….

OSHKOSH BUYS AUSA

Oshkosh Corporation is acquiring AUSA, a manufacturer of wheeled dumpers, rough terrain forklifts and telehandlers for the construction, material handling, agriculture, landscape and specialty equipment industries.

Upon closing, AUSA will become part of the Oshkosh Access segment.

Dan Miller can be reached at dan.miller@dtn.com

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