Brooke Sutherland, Columnist

Deere Tractors Offer a Smooth Post-Covid Ride

Growing demand for farm equipment and price increases on higher-tech gear point to a blockbuster 2021.

November 25, 2020 at 3:34 PM UTC

Brooke Sutherland is Bloomberg News' Boston bureau chief and writes the Industrial Strength Newsletter. She was previously a Bloomberg Opinion columnist covering deals and industrial companies and an M&A reporter for Bloomberg News.

It’s full steam ahead for Deere, with farm equipment leading the way.
Photographer: Daniel Acker/Bloomberg

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Investors looking to ride the industrial recovery could do a lot worse than a Deere tractor.

The maker of the iconic green-and-yellow plows and diggers reported fourth-quarter results on Wednesday, continuing a tradition of pre-Thanksgiving numbers. Even after a banner summer quarter and a significant jump in analysts’ earnings estimates, Deere & Co. still managed to outperform in the three-month period ended Nov. 1. Not only that: Deere is targeting as much as $4 billion in net income in 2021, a record. For context, that’s in line with analysts’ estimates for 2022 — meaning Deere is a full year ahead of schedule.