GFM Network News

Deere posts higher-than-expected profit, trims forecast

Reuters — Deere and Co. on Wednesday reported a stronger-than-expected quarterly profit but trimmed its outlook for full-year sales of farm equipment, citing deteriorating conditions in South America and the former Soviet Union. Sales of the company’s green-and-yellow tractors and harvesters fell a worse-than-expected 12 per cent during the second quarter ended on April 30,

Deere profit jumps; concerns over farm-belt spending

Deere and Co. reported higher-than-expected quarterly profit on Wednesday on strong sales of its tractors and harvesters in the Americas. But concerns that farm-belt spending and commodity prices were poised to weaken sent shares lower. Earlier this year, Deere, the world’s largest maker of agricultural equipment, lowered its outlook for fiscal 2013 revenue, saying a

Machinery makers find shelter in global storm

In a world where heavy equipment sales are stalling due to the housing slump and credit crisis, the farm market is a rarity: a place where demand is still outstripping supply and many customers are still paying with cash. The question is: How long can the agricultural market shelter the equipment companies from the financial