NEW YORK, NY--(Marketwire -04/13/12)- The Farm and Construction Machinery Industry was hit hard by the recession. But things seem to be finally turning around for the industry as an improving global economy and rising food prices are allowing farmers to spend more money on machinery. Five Star Equities examines the outlook for companies in the Farm and Construction Machinery Industry and provides equity research on Tractor Supply Company (NASDAQ: TSCO - News) and AGCO Corporation (NYSE: AGCO - News). Access to the full company reports can be found at:
According to the USDA Prospective Plantings report put out last month, total acreage for crops included in the report is expected to increase by 8.6 million acres from that of 2011. Farmers have been reaping the benefits from high corn prices resulting in the largest U.S. corn crop planted in 75 years, according to government data. As a result there is an increasing pressure for farmers to produce more forcing them to spend money on machinery to improve production rates. Agricultural machinery, unlike automobiles, has a life span of approximately three to seven years.
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Tractor Supply Company, the largest retail farm and ranch store chain in the United States, provided a business update for the first quarter ended March 31, 2012. Net sales for the quarter ended March 31, 2012 increased 22.0% to $1.02 billion from $836.6 million for the quarter ended March 26, 2011. Same-store sales for the quarter increased 11.5%. The same-store sales increase was driven, in part, by early spring weather in 2012.
AGCO, Your Agriculture Company, a worldwide manufacturer and distributor of agricultural equipment, recently announced its 2012 First Quarter Earnings Release Conference Call is scheduled for Tuesday, May 1st at 10:00 a.m. EDT.
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- Tractor Supply Company
- AGCO Corporation
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