Reports Q4 revenue $759.9M, consensus $728.55M. “Our fiscal Q4 results reflect a significant step forward in the execution of our inventory reduction initiative, particularly in our domestic Agriculture segment. We reduced inventory by approximately $304M during the fourth quarter, bringing our total reduction since our fiscal second quarter peak to approximately $419M,” commented CEO Bryan Knutson. “While this accelerated reduction came at the expense of our equipment margins in the short-run, this was a key lever that we felt was necessary to improve our position as we transition into fiscal 2026 with a more subdued demand environment. Looking ahead, we expect to make further headway on our equipment inventory initiatives both domestically and abroad this fiscal year. This will be comprised of a further reduction in absolute dollars and optimizing our product mix to best meet demand in this phase of the industry cycle”.
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