For Immediate Release
Chicago, IL – September 28, 2012 – Today, Zacks Equity Research discusses the U.S. Machinery, including Deere & Company (DE), Caterpillar Inc. (CAT), CNH Global NV (CNH), AGCO Corporation (AGCO) and The Toro Company (TTC).
A synopsis of today’s Industry Outlook is presented below. The full article can be read at
Deere & Company (DE) was impressed with its record fiscal third quarter 2012 (ended July 31, 2012) results and fiscal 2012 outlook. Equipment sales rose 16%; and price realization contributed 5%.
The agricultural and forestry equipment provider is expanding globally to leverage benefits from the growing global farm industry. Fiscal year 2012 equipment sales are expected to grow 13% year over year, after netting out 3% unfavorable currency translation impact expected for the year. Net earnings are anticipated to be approximately $3.1 billion.
Caterpillar Inc. (CAT) reported record results in the second quarter 2012. The company's Equipment sales improved 23% year over year. The company raised its 2012 profit per share expectation from $9.50 to $9.60 on better demand forecasts.
Italy-based CNH Global NV (CNH) posted 3% or 9% (constant currency basis) year-over-year increase in its equipment sales -- agricultural and construction -- in the second quarter of 2012. Worldwide agricultural and construction equipment retail demand in 2012 is expected to be flat to down 5%.
Other top players in the agricultural, construction and mining industry include: AGCO Corporation (AGCO) and The Toro Company (TTC), among others.
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