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John Deere Earnings Continue to Break Records

Screenshot of a slide from the John Deere earnings call and webcast 8/20/2021
Deere & Company
Deere & Company
Screenshot of a slide from the John Deere earnings call and webcast 8/20/2021

Barring extreme unforeseen circumstances, Deere and Company is on track to set a record for annual profits.

It's been a busy month for John Deere. After starting contract talks with union workers and announcing it'll buy another tech company, Deere and Company reported 3rd quarter earnings doubled to nearly $1.67 billion, compared to $811 million a year ago. Per share earnings rose to $5.32, up from $2.57 for May, June, and July of 2020.

The company says the 107% jump in profits came despite supply chain problems.

Deere also says worldwide sales increased 29% $11.5 billion dollars.

Michelle O'Neill

Sales of combines, large tractors, and other big farm equipment jumped 29% in the third quarter, while sales of construction and forestry equipment increased 38%.

As it has for the last few quarters, the company increased its profit prediction for the full year. It's now forecasting $5.7 to 5.9 billion.

So far this year, Deere has reported record earnings and sales for every quarter. Second quarter 2021 earnings set an all-time high for any quarter in John Deere history with third quarter earnings coming in second.

In addition, income for the first nine months of the year ($4.68 billion) has already exceeded the full year record of $3.5 billion set in 2013.

Officially, Michelle's title for 28 years was WVIK News Editor. She did everything there is to do in the newsroom and whatever was needed around the radio station. She also served as Acting News Director from September 2023 - January 2024.
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