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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.

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.