Deere Reaffirms $4.5 Billion-$5 Billion Profit Outlook as Construction Offsets Farm Slump
Updated
Updated · Bloomberg · May 21
Deere Reaffirms $4.5 Billion-$5 Billion Profit Outlook as Construction Offsets Farm Slump
3 articles · Updated · Bloomberg · May 21
$4.5 billion to $5 billion is Deere's unchanged annual net-income forecast, reaffirmed Thursday despite continued weakness in the agricultural economy.
Construction and forestry gains helped counter softer demand tied to struggling farmers, allowing the company to hold the outlook it first issued in February.
Bloomberg's average estimate for annual net income stands at $4.79 billion, placing Deere's guidance range around market expectations.
The update suggests Deere still sees non-agricultural businesses cushioning a prolonged downturn in its core farm-machinery market.
With plant-based foods disrupting agriculture, is Deere's strategy prepared for a radically different and evolving food system?
As climate change batters farms, can Deere's autonomous tractors and AI truly secure the future of our food supply?
How long can construction and forestry carry a company built on agriculture as the farming economy faces a historic downturn?