Deere Cuts Outlook Again as Farm Equipment Demand Drops
John Deere(DE) investopedia.com·2024-05-16 22:45
Key TakeawaysDeere & Co. cut its full-year profit forecast for a second straight quarter Thursday on reduced demand for new farm equipment.The company lowered its prediction for sales of big farm machinery this year.Deere beat earnings and revenue estimates in its fiscal second quarter. Shares of Deere & Co. (DE) fell in intraday trading Thursday as the manufacturer of big farm and construction equipment cut its profit forecast for a second consecutive quarter on limited demand for its machines. The company ...