Comparing Deere & Co.’s outlook for 2017 issued on Nov. 23 to that of USDA’s issued earlier this year, you would have to conclude that the world’s largest manufacturer of farm equipment is a bit more optimistic about the year ahead than is the U.S. ag agency.
Deere & Co. caused a bit of a stir when it used the term “trough” to describe its forecasted sales volumes for 2015. During its analysts’ breakfast last week, Deere management said that it did itself a disservice by not explaining the context of the term “trough.”
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, we examine Deere’s Population of 20-Store Dealers On the Rise. In the Technology Corner, we take a look at Carbon Robotics Developing New “Thinning” Function for LaserWeeder. Also in this episode: AGCO & Kubota Sign Right to Repair MOUs, Deere Reports Rising Large Ag Price Realization - Lower Production Costs and Dealers’ Most Pressing Concerns.