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Deere & Co. Cut 2015 Forecast After Earnings Drop

Deere and Co. beat analysts' forecasts for earnings, but still lost big in its Q1 and has cut its forecast for 2015.

Deere and Co. beat analysts' forecasts for earnings, but still lost big in its Q1 and has cut its forecast for 2015.

Deere and Co. reported earnings Friday showing a drop on down sales of heavy farm equipment. At the same time the company cut its earnings forecast for 2015.

Farming equipment sales were helped out by sales of construction and forestry machinery.

Despite the 17% year over year drop in January, company CEO Samuel Allen was optimistic for 2015, saying Deere is in good position to grow globally, and that world markets aren't affected by what happens with American farming.

More on Deere and Co. earnings can be found on IndustryWeek.

 

IndustryWeek is an NED companion site within Penton’s Manufacturing & Supply Chain Group.

 

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