Earnings

Deere shares drop after tractor maker cuts forecast, citing ‘lingering trade tensions’

John Deere & Co. wheel loaders sit outside at Martin Equipment in Rock Island, Illinois.

Daniel Acker | Bloomberg | Getty Images

Deere on Wednesday reported lower fourth-quarter earnings, hurt by trade tensions as well as poor weather in the U.S. farm belt that have slowed equipment purchases by farmers.

For the quarter ended on Nov. 3, it reported an adjusted profit of $2.14 per share, down from $2.30 per share last year. That compares with average analyst estimates of $2.13 per share, according to Refinitiv Eikon data.

The Moline, Illinois-based company said it expects net income of $2.7 billion to $3.1 billion in fiscal 2020.

Products You May Like

Articles You May Like

Boeing and NASA delay Starliner astronaut return to June 22, nearly doubling mission length to test spacecraft
Here’s the Fed’s new rate forecast that’s moving the markets
Stellantis aims to correct ‘arrogant’ mistakes in U.S. market, CEO says
Steve Cohen is set to make a big push into investing in AI
Gen Z is harnessing ‘one of the magical qualities of investing,’ advisor says — how it helps them build wealth

Leave a Reply

Your email address will not be published. Required fields are marked *