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.
Tag Archives John Deere
Deere cuts 2024 profit forecast as sliding farm income stifles demand
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.
Deere’s striking U.S. workers accept revised offer
Operations to resume Wednesday night, company says
Production and maintenance workers at 14 Deere and Co. plants are expected to return to work starting Wednesday night after voting to approve a new contract. United Auto Workers (UAW), which represents over 10,000 Deere employees in the U.S., said late Wednesday its members voted 61 per cent in favour of new six-year collective bargaining
Comment: Running with the big Deere
Labour unrest and record profits underscore importance of equipment maker
In an effort to maintain its enviable, 34-year run of labour peace, Deere & Co. and the United Auto Workers recently announced a deal to boost worker pay — by 20 per cent over five and six years, Deere said — to keep the iconic green-and-yellow machines rolling off its 11 assembly lines and through
Deere considers rejected offer its “best and final” as strike continues
Reuters – Deere & Co said on Wednesday its latest offer rejected by the United Auto Workers (UAW) union is the U.S. tractor maker’s “best and final offer”, adding that it will keep all options open as the workers’ strike continues. Workers at the Illinois-based company continued their three-week-old strike a day after they voted
Deere’s U.S. workers on strike after rejecting deal
Reuters — Thousands of Deere and Co. workers began a strike on Thursday, the United Auto Workers (UAW) said, days after overwhelmingly rejecting a six-year labour contract that was agreed on with the tractor maker. Earlier this month, the world’s largest farm equipment maker and the UAW union reached an agreement after weeks of negotiation
Deere’s U.S. workers set to strike as UAW fails to reach deal
Reuters — Thousands of Deere and Co. workers were set to go on strike, days after overwhelmingly rejecting a six-year labour contract that was agreed on by United Auto Workers negotiators and the tractor maker. Earlier this month, the world’s largest farm equipment maker and the UAW reached an agreement after weeks of negotiation on
Deere lifts 2021 forecast on solid equipment demand
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
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