Reading Time: 2 minutes Agriculture equipment giant Deere must face a lawsuit by the U.S. Federal Trade Commission accusing the company of forcing farmers to use its authorized dealer network and driving up their costs for parts and repairs, a U.S. judge has ruled.
Deere must face FTC’s antitrust lawsuit over repair costs, US judge rules
Suite alleges Deere violated U.S. antitrust laws by controlling too tightly where and how farmers could repair equipment
Deere tops second-quarter estimates, trims annual profit forecast
Shares up five per cent
Reading Time: < 1 minute 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 misses revenue estimates on subdued farm equipment demand
Outlook did not account for any impact from potential import tariffs, retaliatory tariffs company says
Reading Time: 2 minutes 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
Reading Time: < 1 minute 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 forecasts weak annual profit as farm incomes sag
Reading Time: 2 minutes Deere & Co forecasted lower-than-expected 2025 profit on Thursday, as slumping farm incomes and inflationary pressures affect demand for the company's tractors and other agricultural equipment.
Deere beats profit targets as strong pricing, cost cuts counter slow demand
Reading Time: 2 minutes 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
Reading Time: < 1 minute 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
Reading Time: 2 minutes 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
Reading Time: 2 minutes 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.
Colorado’s ag equipment right-to-repair bill signed into law
Bills introduced in 16 states
Reading Time: 2 minutes Reuters — Colorado’s governor signed the nation’s first right-to-repair legislation into law on Tuesday, giving the state’s farmers and ranchers the autonomy to fix their own equipment. The bill, which requires manufacturers such as Deere and Co. to provide manuals for diagnostic software and other aids, garnered bipartisan support as farmers grew increasingly frustrated with […] Read more
A message from April Stewart, Country Guide's Associate Editor
