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.
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 […] Read more
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 reaches for fully autonomous fleet by 2030
Company targets autonomous operations for every job required to grow a corn or soy crop, from tillage to harvest
Reading Time: 2 minutes As John Deere unveiled its 2025 model year product line in late February, it brought the company one year closer to a significant date: 2030. That is when the brand has promised to offer a complete fleet of autonomous equipment, able to handle a full farming season from seeding to harvest with self-driving machines. “The […] Read more
Farm equipment manufacturers focus on technology
Major implement companies face high-tech future as they wrestle with automation, autonomy and precision agriculture
Reading Time: 3 minutes Glacier FarmMedia – Images of autonomous machines working on their own in fields can easily grab the attention of early-adopter producers, especially those facing a labour crunch. They also make impressive headlines and brand announcements. Though several concept, prototype and even a few production machines have appeared on the scene, nearly all producers will still […] Read more
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.
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