Deere Raises Profit Forecast as Construction Boosts Order Book
- Company also sees gains in forestry and agriculture sales
- Signs that worst may be over after years-long farm slump
This article is for subscribers only.
Deere & Co., the world’s biggest maker of farm machinery, raised its 2017 profit outlook, drawing confidence from signs of increased demand in the construction and forestry industries as well as agriculture.
Sales of the company’s signature green-and-yellow agriculture and turf equipment will rise about 3 percent in the fiscal year through October, Deere forecast Friday as it published better-than-expected fiscal first-quarter earnings. The Moline, Illinois-based company said there are signs the worst may be over following a years-long industry slump.