Despite Sagging Sales, Deere Turns a Profit for FY15; Expects Same in 2016

Deere & Co. managed to pull a rabbit out of a hat by posting $351 million in earnings for its fourth quarter of the current fiscal year and $2.177 billion for the full year, compared with $910 million and $4.297 billion in 2014. Pretty good considering year-over-year fourth-quarter net sales were down by 26% and down 22% for the year.

One analyst noted, “Deere has done an admirable job of managing margins through the current…

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