EQUIPMENT NEWS
Deere's Profit Falls 9.5%
Wed May 14, 2014 02:27 PM CDT

(Dow Jones) -- Deere & Co.'s fiscal second-quarter profit fell 9.5%, as demand for farm tractors and harvesting combines remained under pressure from farmers' increasing reluctance to buy new equipment.

Deere's profit from the quarter topped expectations as the world's largest seller of farm machinery trimmed its overhead costs and benefitted from lower taxes. But the Moline, Ill.,-based company pared its equipment sales outlook further from its February estimate, while reiterating its earlier income forecast.

After years of purchasing machinery at record volumes, farmers are taking a breather. Last year's bumper harvests of corn and soybeans in North America pushed ...

Quick View
Related News Stories
Deere: You Own Your Tractor
Machinery Chatter
UAVs Taking Flight in Ag
IronPlanet Adds More Iron
Machinery Chatter
Remove Barriers by Building
Machinery Chatter
Eyes in the Sky
Machinery Chatter
A Possible Tier 5 Could Be Win, Win