After being battered for three years in a row by a global farm recession and weak construction markets, this year should be a welcome improvement for John Deere. The maker of farm and construction equipment based in Moline is scheduled to release its report Wednesday for the fiscal year that ended October 31st.
After earnings set a record in 2013, they fell steadily - by 5 per cent, 33 per cent, and 17 per cent in the following years. But analysts surveyed by NASDAQ predict Deere will reverse that trend in a big way, and report earnings went up nearly 35 per cent (34.7) this year.
Analysts also predict sales and revenue for the past year will jump 10 per cent. At the end of the third quarter, Deere predicted an 11 per cent increase for the year, thanks to improving markets for farm and construction equipment.