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Strong Farm Sector Boosts John Deere Earnings

Strong Farm Sector Boosts John Deere Earnings

By Amanda Brodhagen, Farms.com

The green tractor giant – John Deere reported earnings and revenue higher than expected. Deere reported record third-quarter results, a 26 per cent rise in North and South American sales. The company attributes its success on the strength of the farm sector.

"Deere's success is a reflection of considerable strength in the farm sector, especially in North and South America," said Deere's CEO Samuel R. Allen.

Company shares gained more than 2 per cent in early hours trading on Wednesday, shortly after the announcement. Income rose 26.4 per cent to $996.5-million, or $2.56 a share, which is up from the same quarter last year - $788.0-million, or $1.98 a share.

Net sales of Deere increased 4 per cent for the third quarter.
 


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Spring Planting Prep Just Got Serious… We NEED This!

Video: Spring Planting Prep Just Got Serious… We NEED This!

Getting closer to planting season means one thing… it’s time to get EVERYTHING ready.

Today didn’t go exactly as planned—we thought we’d be hauling potatoes again, but instead we spent the day digging equipment out of the cellar, hooking up the grain drill, and getting tractors ready to roll. With wheat planting just around the corner, every piece of equipment matters.

Of course, it wouldn’t be a normal day without a few problems… dead batteries, hydraulic issues, and a truck tire that absolutely refused to cooperate. We tried everything—jump packs, bead bazooka, ratchet straps… and eventually had to bring out the “big guns” just to get things moving again.

But that’s farm life—adapt, fix, and keep moving forward.

We’re getting close to go-time. Wheat seed is coming soon, and planting season is right around the corner