Deere Profits Good Despite Slip In Ag Equipment Sales - News and Weather For The Quad Cities -

Deere Profits Good Despite Slip In Ag Equipment Sales

Posted: Updated:
  • Most Popular StoriesMost Popular StoriesMore>>

  • Cancer Survivor Getting Wish To Meet Chicago Bears

    Cancer Survivor Getting Wish To Meet Chicago Bears

    Monday, September 1 2014 6:24 PM EDT2014-09-01 22:24:39 GMT
    A Fruitland man recovering from a rare form of bone cancer is getting his wish.The Kids Wish Network is sending Zach Painter to Chicago's Soldier Field where he and his family will watch Sunday's Bears game and meet the players. The trip signals the end of a tough year for the cancer survivor who celebrated his 20th birthday on Friday.“Bears are my favorite team,” said Zach. “Since I've been little, all I do on Saturday and Sunday is watch football.”Zach is a football fanatic, just ask him. L...More >>
    A Fruitland man recovering from a rare form of bone cancer is getting his wish.The Kids Wish Network is sending Zach Painter to Chicago's Soldier Field where he and his family will watch Sunday's Bears game and meet the players. The trip signals the end of a tough year for the cancer survivor who celebrated his 20th birthday on Friday.“Bears are my favorite team,” said Zach. “Since I've been little, all I do on Saturday and Sunday is watch football.”Zach is a football fanatic, just ask him. L...More >>
  • Woman Taken To Hospital After ATV Crash On Wapsipinicon Sandbar

    Woman Taken To Hospital After ATV Crash On Wapsipinicon Sandbar

    Monday, September 1 2014 4:50 PM EDT2014-09-01 20:50:56 GMT
    Scene Of ATV Accident Saturday near Calamus, IAScene Of ATV Accident Saturday near Calamus, IA
    Conservation officers are reminding people to stay away from sandbars when using All-Terrain-Vehicles following a weekend accident.More >>
    Conservation officers are reminding people to stay away from sandbars when using All-Terrain-Vehicles following a weekend accident.More >>
  • Soybean Disease Appearing In Local Farm Fields

    Soybean Disease Appearing In Local Farm Fields

    Monday, September 1 2014 11:14 PM EDT2014-09-02 03:14:12 GMT
    A wet summer and spring has brought back a disease to local soybean fields. Soybean Sudden Death Syndrome causes bean plants to die early, before the plant has been able to fully grow its soybeans.More >>
    A wet summer and spring has brought back a disease to local soybean fields. Soybean Sudden Death Syndrome causes bean plants to die early, before the plant has been able to fully grow its soybeans.More >>
While continuing to see impressive profits, Deere and Company projects a tempering in income as it releases its 2nd quarter earnings report.

The Moline-based ag and construction equipment manufacturer says net sales and revenues were down nine percent. Still, the company reported net income was $980.7 million, the fourth highest quarter in company history for net sales of equipment operations and net income.

In the report released Wednesday, May 14, 2014, Deere said ag and turf division sales were down 12 percent for the quarter. The company forecasts worldwide sales will drop seven percent for the year, due to lower farm income than last year.  

As for construction and forestry equipment, Deere says sales were up two percent for the quarter and projects an annual increase of 10 percent, due to an improving economy and housing starts.

According to Deere Chairman and CEO Samuel R. Allen the combination of cost control and new product and market investments, "John Deere expects to achieve near-record earnings for the full year and the company is well-positioned to deliver solid financial results throughout the business cycle."

Powered by WorldNow

805 Brady Street, Davenport, IA 52803

Telephone: 563.383.7000
Fax: 563.383.7131
Email: news@kwqc.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Young Broadcasting of Davenport, Inc. A Media General Company.