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Economy

Deere Earnings Tomorrow

Thanks to falling farm income, profits for Deere and Company are expected to continue falling. The farm and construction equipment maker based in the Quad Cities will announce its second quarter results on Friday. 

The USDA recently predicted farm income this year will drop 32 per cent from last year. And the company has already felt the effects - sales declined 19 per cent in the first quarter and earnings per share dropped 38 per cent.
As reported by the Financial Times, Bloomberg says the consensus of analysts is that Deere sales fell 18 per cent in February, March, and April, compared to the previous year. And net income will be down 46 per cent ( from 2.65 to 1.56 per share).
On the bright side, the construction and forestry division is doing well this year - sales grew 13 per cent in the first quarter. 
 

A native of Detroit, Herb Trix began his radio career as a country-western disc jockey in Roswell, New Mexico (“KRSY, your superkicker in the Pecos Valley”), in 1978. After a stint at an oldies station in Topeka, Kansas (imagine getting paid to play “Louie Louie” and “Great Balls of Fire”), he wormed his way into news, first in Topeka, and then in Freeport Illinois.