(JimPattison.com)

Deere lifts 2021 forecast on solid equipment demand

Reading Time: 2 minutes Reuters — Deere and Co. on Friday raised its full-year earnings forecast after quarterly profit topped Wall Street estimates on the back of strong demand for farm and construction equipment. The world’s largest farm equipment manufacturer now expects net income in fiscal 2021 to be between $5.7 billion and $5.9 billion, up from a range […] Read more

John Deere in October announced updates to its 7R tractor line for 2020, including the 7R 210 shown here. (Deere.ca)

Deere bets on cost cuts, services push to boost profits

Reading Time: 2 minutes Chicago | Reuters — Deere and Co. on Wednesday said it will cut costs and ramp up investment in data-driven agriculture technology and its services business to make itself more profitable. In a pitch to investors, CEO John May said the measures are expected to boost operating profit margin to 15 per cent by 2022 […] Read more

A photo from John Deere’s Sept. 17, 2019 rollout of its 6M tractor series for 2020. (Deere.ca)

Deere to lay off 163 U.S. workers as trade war dents demand

Reading Time: 2 minutes Chicago | Reuters — Deere and Co. on Tuesday announced indefinite layoffs for 163 U.S. manufacturing workers at plants in Illinois and Iowa that make agricultural, forestry and construction equipment, citing decreased customer demand. The layoffs come week after the company said it would reduce production by 20 per cent at its facilities in Illinois […] Read more

Deere cautious on 2019 profit after recently missing fourth quarter estimate

The company is hoping replacement demand and good crops will increase sales in 2019

Reading Time: 2 minutes Chicago | Reuters – Deere & Co on Nov. 21 gave a cautious profit forecast for fiscal 2019 after missing quarterly earnings estimates amid a U.S. trade battle with China that has depressed local farm commodity prices and hurt agriculture equipment demand. The world’s largest tractor manufacturer remained optimistic about prospects for the U.S. farm […] Read more

(Deere.ca)

Deere plans price increases to offset rising costs

Reading Time: 2 minutes Chicago | Reuters — Shares of Deere and Co. soared Friday after the U.S. tractor maker revised up its full-year earnings estimate on stronger equipment demand and shared its plans to increase prices to offset increased costs. The company’s stock was up 6.4 per cent at $156.24 in early afternoon trading on the New York […] Read more


(Deere.ca)

Deere upgrades 2018 outlook on improving equipment demand

Reading Time: 2 minutes Reuters — U.S. farm equipment maker Deere and Co. on Friday boosted its sales outlook for fiscal 2018, citing strengthening conditions in agricultural and construction markets, sending its shares higher. For the past four years, Deere has been battling weak demand for farm equipment as a global grain glut pushed down prices, sending U.S. farm […] Read more