In today’s newscast we report on Deere & Co.’s fiscal 2015 outlook, why Global Hunter Securities upgraded Alamo to ‘buy,’ protection from precision ag liability and the growing concern over new equipment inventory levels.
The results of Ag Equipment Intelligence's latest dealer survey show that North American farm equipment dealers continue to see a softening in ag equipment sales.
Deere & Co.’s earnings report surprised more than a few analysts, but many aren’t buying into the company’s forecast for the year ahead, though it’s lower than their fiscal 2013 results.
Deere & Co. announced on September 3 that it would review strategic options for its irrigation operations known as John Deere Water. In other words, Deere is looking to get out of the drip irrigation business.
Deere & Co.’s third-quarter 2013 results easily surpassed analysts’ expectations as the world’s largest ag equipment maker posted a 26% increase in income on a 4% gain in net sales and revenues. At the same time, Deere said it expects a weaker fourth quarter in this fiscal year.
While industry wide sales of farm tractors and combines continue at a brisk pace, in its June monthly retail announcement on July 11, Deere and Co. reported it experienced “mixed” results in May.
Deere & Co. saw another strong quarter, reporting on May 15 that its net income for the period ended April 30 was $1.084 billion compared with $1.056 billion for the same period last year, or up 2.7%. Through the first six months of its fiscal year, the company produced net income of $1.7 billion vs. $1.6 billion last year.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.