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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Deere and Co | NYSE:DE | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 5.00 | 1.26% | 400.96 | 401.34 | 394.85 | 399.64 | 1,626,807 | 01:00:00 |
From May 2019 to May 2024
By Matt Grossman
Deere & Co. expects to achieve full-year net income of $2.25 billion, the Moline, Ill.-based agricultural- and construction-equipment maker said Friday.
The forecast is higher than the estimate Deere issued in May, when it said it expected net income of between $1.6 billion and $2 billion. Analysts surveyed by FactSet have estimated full-year net income of $1.99 billion.
The Covid-19 pandemic and its economic effects have had a moderating effect on Deere's key markets due to customer uncertainty, Chief Executive John C. May said.
Deere forecast that its world-wide sales of construction and forestry equipment would decline about 25% year over year in 2020, with industry construction-equipment sales down about 20% in North America. Agriculture and turf sales would decline by roughly 10% world-wide, Deere said, including a decline of 5% to 10% in the U.S. and Canada.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
August 21, 2020 07:05 ET (11:05 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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