Ken Golden

Deere Returns to Cuba

Nov 8, 2017
Deere and Company

John Deere "green" could soon start making an appearance in farm fields in Cuba. Last week, the company announced an agreement to sell tractors to the Cuban government. 

Thanks to a strong second quarter, Deere and Company has raised its outlook for the year. Friday the company reported earnings rose to $802 million or $2.49 per share, compared to $1.56 a year ago.

Bronze statue located outside Deere headquarters in Moline, IL
Michelle O'Neill / WVIK News

Deere and Company makes money for investors even when farmers are suffering. Michelle O'Neill reports that's one of the messages Chairman and CEO Sam Allen emphasized during today's annual meeting at World Headquarters in Moline.

Sam Allen is pleased with Deere and Company's performance during the downturn in the agriculture sector. He's also confident it can help customers feed and shelter the world's growing population for decades to come.

Deere & Company

Earnings fell but sales and revenue rose for Deere and Company during its first quarter. 

Deere and Company

As expected, sales, revenue, and profits all fell for John Deere. Wednesday the company reported results for the 4th quarter and its 2016 fiscal year. 

Deere & Company

As expected, sales and profits fell in the third quarter for Deere and Company. Today it reported sales for May through July dropped 11 per cent, and net income fell to 489 million dollars, compared with 511 million for the same quarter last year - a drop of 4 1/2 per cent.

Spokesman Ken Golden says sales of Deere farm and landscape equipment decreased eleven percent in the third quarter, year over year. And the company predicts they'll drop eight per cent for the full year.

Adjusting to lower demand, the company will lay off 120 workers at the Deere Harvester combine factory in East Moline. The layoffs will take effect right after Labor Day.

Deere & Company

Thanks to weakness in its core markets, farm and construction equipment, sales and profits fell for Deere and Company. Wednesday it reported results for the fiscal year that ended last month. Herb Trix reports.

Deere & Company

John Deere is laying off 180 employees in the Quad Cities. Deere and Company told employees today  about the reductions at Davenport Works and Harvester Works. 

Deere & Company

Despite a big drop in quarterly profits, John Deere remains optimistic about the future. Today the company reported third quarter net income fell 40 per cent, or more than 300 million dollars, compared to last year. / John Deere

Deere and Company has been preparing investors for lower profits. And this morning, it announced first quarter earnings totaled nearly $387 million. That's $1.12 per share, compared to $1.81 last year. Worldwide sales declined 17 percent.