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 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
Reading Time: 2 minutes 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
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 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.
Joining forces for new innovations
[Make It Count: Machinery] When the big equipment brands need an R&D jolt, they go hunting for ideas like — maybe — that project in your shop
Reading Time: 7 minutes Alberta ranchers Austin and his father Larry Ruud came up with an idea for a new product, the way any farmer faced with making things work day in and day out might, and the product that resulted is compostable baler net wrap which solves the problem of plastic twine and net wrap lasting for years […] Read more
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.
How optical sprayers do a whole lot more
[Better Advice] Optical spraying systems can pay off if used only for pre-seed burnoffs, but with a little pushing of boundaries, these farmers are finding they can also use the technology to target fungicides and pre-harvest desiccants
Reading Time: 5 minutes Early adopters are buying optical spraying systems to greatly reduce the amount of herbicide required for pre-season burnoff of weeds. This alone is often enough to justify the cost for larger farms that cover thousands of acres per year. But pre-seed burnoff — seeing green weeds on brown ground and spraying them — is just […] Read more
A message from April Stewart, Country Guide's Associate Editor
