Revenue Archives | Alberta Farmer Express

Cervus expects chip shortages may continue into fall

Deere dealer chain books increased Q1 profit

The semiconductor chip shortage plaguing automotive and equipment manufacturers may last into the second and even third quarters of the year, farm equipment retailer Cervus Group says. Calgary-based Cervus — which operates 64 dealerships in Canada, Australia and New Zealand, including 38 devoted mainly to Deere farm equipment — expects increased demand to run up […] Read more

Crops, Reuters

CP CEO rules out raising Kansas City Southern bid

CP's first-quarter profit climbs

By Reuters, GFM Network News April 22, 2021

Reuters — Canadian Pacific Railway CEO Keith Creel said Wednesday the company will not raise its bid for U.S. railroad Kansas City Southern, saying bigger rival Canadian National’s offer is “not a real deal.” The two bidding companies are locking horns to take control of a vast network of railways across North America, with CN […] Read more

Crops, Markets, Reuters

Nutrien beats profit expectation on strong potash sales

By Reuters, GFM Network News February 18, 2021

Reuters — Canadian fertilizer maker Nutrien posted fourth-quarter profit above analysts’ estimates on Wednesday as potash demand rose amid rising crop prices, sending its U.S.-listed shares up in extended trade. Fertilizer producers have benefited from high U.S. crop exports, including record-large corn sales to China. With crop prices touching multi-year highs, farmers are poised to […] Read more

Signage on a Tweed retail outlet in Winnipeg. (Dave Bedard photo)

Crops, Reuters

Pot producer Canopy Growth sees profit in 2022

Costs cut, revenue increasing

By Reuters, GFM Network News February 10, 2021

Reuters — Canopy Growth Corp., the world’s largest pot producer, said on Tuesday it expects to turn a profit in the second half of 2022 after aggressive cost-cutting and higher demand for cannabis products helped narrow third-quarter losses. Canadian pot producers have been under pressure from investors seeking returns as profits remain elusive due to […] Read more

Crops, Machinery & Shop

Railways overshoot grain revenue limits for 2019-20

Grain revenues run $5.3 million over caps, CTA rules

By Dave Bedard, GFM Network News January 7, 2021

Canada’s big two railways have about two more weeks to hand over about $5.6 million in Prairie grain revenue overages and related penalties for the 2019-20 crop year. The Canadian Transportation Agency (CTA) on Dec. 22 ruled Canadian National Railway (CN) and Canadian Pacific Railway (CP) each overshot their maximum revenue entitlements (MREs) for the […] Read more

Corn, Crops, Markets, Reuters

Corteva posts weak revenue, disappointing outlook

By Arathy S Nair, GFM Network News August 6, 2020

Reuters — Corteva Inc. on Wednesday missed analysts’ expectations for second-quarter revenue and its reinstated full-year forecast came in below estimates, sending the seed and pesticide producer’s shares down as much as nine per cent in extended trade. Good weather and higher planted area shifted corn volumes in North America to the first quarter, while […] Read more

General, Markets, Reuters

Loblaw beats profit estimates as online sales surge

By Reuters, GFM Network News July 23, 2020

Reuters — Loblaw beat quarterly revenue and profit estimates on Thursday, driven by a near-fourfold jump in online sales, as stay-at-home Canadians used the retailer’s pickup and delivery services to stock up on bread, milk and eggs. With consumers still limiting their trips outdoors due to the COVID-19 pandemic, the company said it would invest […] Read more

General, Reuters

Feds proposing to expand wage subsidy program

By Reuters, GFM Network News July 18, 2020

Ottawa | Reuters — The Canadian government wants to expand an emergency wage subsidy program so that all businesses suffering losses from the COVID-19 outbreak will benefit, Finance Minister Bill Morneau said on Friday. Morneau told a news conference that Ottawa would drop an earlier requirement stipulating that businesses needed to show a 30 per […] Read more

Dairy Cattle, Livestock

Saputo to shut two dairy plants in East

By GFM Staff February 7, 2020

Canadian dairy processing giant Saputo, in a move it describes as “right-sizing” its manufacturing footprint, plans to close two of its plants in Eastern Canada within a year. Montreal-based Saputo said Thursday it will close the former Riverside Cheese and Butter plant at Trenton, Ont. this September and its Baxter dairy plant at Saint John, […] Read more

A worker pushes a cart of marijuana plants at the Canopy Growth facility at Smiths Falls, Ont. on Jan. 4, 2018. (File photo: Reuters/Chris Wattie)

Crops, Markets, Reuters

Bargain hunters fire up rally in cannabis stocks

By David Randall January 25, 2020

New York | Reuters — Some cannabis stocks are seeing their prices surge as investors hunt for winners in the ashes of an industry shakeout that hammered share prices last year. Shares of Tilray Inc. and Canopy Growth Corp. have climbed more than 20 per cent since the start of the year, while Cronos Group […] Read more

B.C. again waives ag income threshold for farm properties

Flea beetles a nuisance for canola crop

Businesses, U.S. legislators fume as Canada extends travel ban

GFM Network News