Deere & Co cut the lower end of its annual profit forecast on Thursday but topped Wall Street expectations for second-quarter results aided by cost-saving measures and inventory management, sending its shares up five per cent.
Tag Archives John Deere
Deere tops second-quarter estimates, trims annual profit forecast
Shares up five per cent
John Deere offers upgrades for planters, New Holland rolls out latest PowerStar tractor at National Farm Machinery Show
For day two at the National Farm Machinery Show, we paid a visit to the John Deere booth who announced planter upgrades at the Louisville, Kentucky show. Rather than having to put money down on a new planter, if your platform still has plenty of acres left in it, Deere is now offering upgrades with
Deere misses revenue estimates on subdued farm equipment demand
Outlook did not account for any impact from potential import tariffs, retaliatory tariffs company says
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.
Deere boosts bet on autonomous tractors with new machines
Deere & Co strengthened its bet on autonomous machinery by unveiling new tractors and industrial equipment, capable of operating without the need for a human being in the cab, at the CES trade show in Las Vegas on Monday.
Deere beats profit targets as strong pricing, cost cuts counter slow demand
Deere & Co beat analysts' expectations for third-quarter profit on Thursday, as stronger pricing and cost control measures protected its margins from sluggish demand for its farm equipment.
Deere announces job cuts to tackle slowing farm equipment demand
Deere & Co said on Wednesday it would cut an unspecified number of production and salaried jobs to save costs as it grapples with a downturn in farm equipment demand.
Deere cuts 2024 profit forecast as sliding farm income stifles demand
Deere has trimmed its annual profit forecast for the second time, squeezed by slumping demand for tractors and combines as falling crop prices pressure farm income.
Deere cuts 2024 profit view as borrowing costs hurt demand
Executives expressed caution about margin performance amid weakening farm economy
Deere & Co cut its 2024 profit forecast on Thursday as farmers remained hesitant about big-ticket equipment purchases due to high borrowing rates and falling crop prices, even as its first-quarter sales and profit topped Wall Street estimates.
At Ag in Motion: Seeding equipment gets its closeup
Multiple manufacturers seize opportunity to compare offerings
Ag in Motion’s 2023 edition continued to make equipment demonstrations a central part of its presentation to farmers. Not only can farmers kick the tires on a machine of interest — they can actually see how it performs compared to competitors. That definitely helps inspire confidence when making a buying decision. This year the show
Manitoba Deere dealer expands westward reach
Enns Bros. to buy Shoal Lake's S.H. Dayton
A major dealer of John Deere equipment in Manitoba is extending its catchment in the province’s west to include a long-established Deere shop. Winnipeg-based Enns Bros. announced Friday it has a deal in place to buy the assets of S.H. Dayton Ltd., a Deere equipment dealership at Shoal Lake, about 100 km northwest of Brandon.
Cyber-Savvy Farmer
