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
Deere lifts 2021 forecast on solid equipment demand
Deere bets on cost cuts, services push to boost profits
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
Deere to lay off 163 U.S. workers as trade war dents demand
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
Deere plans price increases to offset rising costs
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
Deere upgrades 2018 outlook on improving equipment demand
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
Excess Liquidity Driving Up Food Prices
Excess liquidity in global markets is driving up prices of farm commodities, which could be potentially dangerous in the near term, World Bank president Robert Zoellick said Dec. 11. With global interest rates at historic lows, investors are piling into different markets and asset classes in search of higher returns, raising concerns about possible asset
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