Lindsay revenues decline as ag industry normalizes
Irrigation and infrastructure OEM and technology provider Lindsay Corp. posted declining year-over-year irrigation revenue as unit volume returns to normal seasonality. Lindsay’s North American irrigation revenue for the second quarter of 2023 were $90.4 million, down 10.2% from Q2 last year,
New orders for core capital goods inch up in February
New orders for core capital goods increased slightly for the second straight month as companies continued to navigate rising interest rates. The seasonally adjusted value of core capital goods orders, which excludes aircraft and defense equipment, landed at $75.2 billion, an
Equipment finance industry confidence declines in March
Confidence in the equipment finance industry declined slightly in March following three months of growing confidence as recession and inflation woes continue. The Monthly Confidence Index for the Equipment Finance Industry landed at 50.3 for March, down from 51.8 in February
Partnerships, workforce development key to addressing manufacturer, dealer labor shortages, US rep says
Equipment and congressional leaders are emphasizing the need for infrastructure funding and workforce development to support the equipment industry. U.S. Rep. Dina Titus (D-Nev.) ended her tour of CONEXPO 2023 in Las Vegas last week by speaking with the media, along
New Holland homes in on electric rentals
LAS VEGAS — New Holland Construction, a subsidiary of CNH Industrial, aims to capitalize on equipment rental opportunities via new electric vehicles. “As far as ease-ability and serviceability [of EVs], that’s a big advantage for a lot of our customers, especially
Why John Deere plans to buy satcom services
WASHINGTON— Agriculture equipment manufacturer John Deere wants to add more satellite connectivity solutions to its equipment that can help farmers work more efficiently. The company is assessing a slew of satcom proposals from multiple vendors as it looks to connect its machines and
US equipment industry eyes electrification
LAS VEGAS — Electrification in the equipment industry is building slowly in the United States but trails years behind Europe, which outpaces U.S. EV sales by about 2.5 million vehicles. “The biggest trend right now is electrification,” DLL Head of Regional
Equipment auction volume jumps as supply improves
LAS VEGAS — Equipment auction volume is increasing amid rising inventory levels and seasonality trends. “Auctions are growing; you’re going to see a lot more equipment rolling through auction,” said Mitch Helman, sales manager at AuctionTime, EquipmentFacts and HiBid — subsidiaries
BMO, BNP Paribas form cross-border partnership
BMO and BNP Paribas have formed a long-term commercial finance agreement that allows commercial clients from both banks to utilize the combined global services. The new, trans-Atlantic partnership began as a result of BMO’s purchase of Bank of the West from
PacWest, Western Alliance stocks continue to plummet
Regional equipment financiers PacWest and Western Alliance Bank continued to see their stock crater Monday as investors showed concern over banks. Several banking stocks declined Monday as part of the fallout from the closure of both Silicon Valley Bank and Signature