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Workers set up a temporary building for John Deere on Jan. 3, 2022 in the parking lot of the Las Vegas Convention Center in preparation for CES 2022. (Photo: Reuters/Steve Marcus)
Machinery, News, reuters

Deere must face FTC’s antitrust lawsuit over repair costs, US judge rules

Suite alleges Deere violated U.S. antitrust laws by controlling too tightly where and how farmers could repair equipment

By ,
Agriculture equipment giant Deere must face a lawsuit by the U.S. Federal Trade Commission accusing the company of forcing farmers to use its authorized dealer network and driving up their costs for parts and repairs, a U.S. judge has ruled.
(Deere.com)
Machinery

Deere misses revenue estimates on subdued farm equipment demand

Outlook did not account for any impact from potential import tariffs, retaliatory tariffs company says

By
Deere's quarterly revenue slumped 35 per cent and missed analysts' expectations as more farmers switched to renting equipment due to weak incomes and high borrowing costs, sending its shares down nearly 4.5 per cent in morning trading on Thursday. The company said its outlook did not account for any impact from potential import tariffs by the U.S. and any retaliatory actions taken by other countries.
Screengrab from a CNH promotional video of its Magnum tractor assembly plant at Racine, Wisconsin. (CNH video)
Business, Machinery

Profits up at agriculture equipment makers

Higher sales and profit margins boost the balance sheets of major agricultural implement makers

By
As the height of the pandemic fades, COVID-induced problems for the big farm equipment brands are starting to ease. Their sales numbers have seen a post-pandemic jump. Sales of utility and compact utility tractors have declined sharply from an artificial high, which was attributed to acreage owners stuck at home during the pandemic and spending […] Read more

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