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Deere 3rd Quarter Results

Deere and Company

A very mixed third quarter for John Deere. Friday the company reported results for May, June, and July, showing sales fell 3 per cent, while profits rose 1 per cent. 

The company says continued uncertainty in the agriculture sector held down its results, while profits rose sharply for its Construction and Forestry division. Earnings came in at $2.81 per share, up slightly from $2.78 a year ago. And worldwide sales and revenue fell 3 per cent, to $10 billion.

Results for the first three quarters of the year, however, look much better. Deere says net income jumped 63 per cent $7.87 per share while sales and revenue rose 5 per cent. 

For the full year, the company is now predicting sales will increase 4 per cent - with no major change from 2018 for the Agriculture and Turf division, but a 4 per cent increase for Construction and Forestry. 

Year-end results will be released in November.