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.
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.
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, PFG America CEO Daniel Cook discusses the company's goals for expanding Deutz-Fahr's North American presence. In the Technology Corner, Noah Newman hits the technology highlights of the 2024 National Farm Machinery Show. Also in this episode, CNH Industrial reports $18.1 billion in 2023 ag sales, fewer dealers plan to build brand new dealerships and Deere dealers' inventory levels are rising.