farm

Tariffs, Farm Income, Squeezing Sales for Deere

Dan Economy, Industry News Release

(NAFB) — Low farm income, a challenging growing season and the impact of trade tariffs on agriculture have farmers putting off purchases of equipment. The depressed farm economy is part of the factors why Deere &Co. trimmed its earnings forecast for the year to $3.2 billion, from an expected $3.3 billion and a five percent increase in sales. The sales …

deere

Deere Slowing Production of Farm Equipment

Dan Economy

John Deere says it will slow production output at certain facilities by as much as 20 percent year-over-year during the second half of 2019. Reasons for the decision range from trade uncertainty to a host of other issues pressuring the ag industry. Director of Investor Relations Josh Jepsen says output reductions will mainly focus on large equipment in the North …

john deere

John Deere Expands Utility Tractor Lineup

Dan General, Industry

If you are looking for a hardworking utility tractor, John Deere has a variety of models that range from 23 to 135 horsepower that can get whatever job you have done. Lyle McMillian, product marketing manager for John Deere, talked with Southeast AgNet’s Randall Weiseman about their expanding utility tractor lineup. John Deere Expands Utility Tractor Lineup

national ffa

John Deere Gives Significant Grant to National FFA Organization

Dan Education, Industry News Release

John Deere and the National FFA Organization have been in partnership for the past 75 years. To commemorate that, John Deere is making a $75,000 contribution to the FFA Living to Serve Platform. The funds are in addition to the wide range of FFA activities that John Deere already supports. Sam Allen, Deere and Company CEO and Chairman, says, “The …

prices

John Deere Raising Prices to Cover Steel Costs

Dan Economy, Industry News Release

Deere & Company is raising equipment prices in order to protect profits as costs rise. The farm and construction machinery manufacturer says profits were up 50 percent and equipment sales were up 34 percent annually in its latest quarter. However, a Dow Jones report says those numbers disappointed analysts. Deere’s share rose nearly six percent as investors are focusing on …

sales

John Deere Concerned About Trade Retaliation

Dan Industry News Release, Trade

The world’s largest maker of agriculture equipment, Deere and Company, is worried that possible trade tensions between the U.S. and other countries could affect its machinery sales. A Bloomberg report says the steel and aluminum tariffs on imports to America will have an impact on the company. But, Deere is much more worried about possible trade retaliation that could target …

john deere

John Deere Sales and Income Numbers Climb

Dan Industry News Release

Improving farm and construction equipment markets contributed to higher sales and income numbers for the fourth quarter and full year for John Deere. The company’s performance benefitted from advanced products and a flexible cost structure. John Deere’s 2018 income forecast calls for a net income of $2.8 billion. Net income for Deere and Company was just over $510 million, or …

national ffa

Deere Wins Trademark Lawsuit

Dan Industry News Release

A U.S. District Court in Kentucky ruled in favor of Deere and Company in a trademark lawsuit. The lawsuit was filed by Deere to protect the use of the trademark green and yellow color combination on John Deere agricultural equipment. Following a one-week trial held in June, the court recently announced it had ruled in favor of Deere. The court …

road

Farm Machinery Giant Acquiring Leading Road Construction Manufacturer

Dan Industry News Release

Deere & Company announced it has signed an agreement to acquire the Wirtgen (Vert-gIN )Group, a privately-held international company that is the leading manufacturer worldwide of road construction equipment. The acquisition is valued at $5.2 billion, or 4.35 billion euros, in an all-cash transaction. Headquartered in Germany, the Wirtgen Group has five premium brands across the entire road construction sector …

monsanto

Monsanto Terminates Sale of Precision Planting to John Deere

Dan Industry News Release

The U.S. Department of Justice announced this week that John Deere and Monsanto had terminated their attempted sale of Precision Planting, LLC., from Monsanto to John Deere. The department filed suit to block the sale on August 31, 2016, to block the acquisition. The reasoning behind the suit was the Justice Department felt the sale was a merger-to-monopoly in high-speed …