Deere to Raise Prices on Higher Costs for Freight, Materials
- Fiscal second-quarter earnings trailed analysts’ estimates
- Tractor maker says demand is improving, raises profit forecast
Deere's 'Messy Quarter' Is Out of the Way Says Blair Analyst
This article is for subscribers only.
Deere & Co. plans to raise prices as the world’s biggest farm-machinery manufacturer is buffeted by rising costs for freight and raw materials.
Trucking expenses have been climbing in recent months in the U.S. amid a shortage of big-rig drivers, and fuel is becoming more expensive. Walmart Inc. said Thursday that increased transportation costs will probably be a headwind for the next few quarters. Also hitting Deere and other manufacturers is the recent increase in prices for steel and aluminum.