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You are here: Home / Agriculture / Deere reports an end to 12 quarters of declining earnings

Deere reports an end to 12 quarters of declining earnings

May 19, 2017 By Radio Iowa Contributor

Earnings at Iowa’s largest manufacturing employer are bouncing back.

Deere & Company’s second-quarter earnings increased 62 percent from the same quarter a year ago. That ended 12 consecutive quarters of earning declines.

For the quarter ending April 30th, the Moline, Illinois-based company posted earnings of more than $802 million or $2.49 per share. That compares with $495 million or $1.56 per share a year ago. This was Deere’s best second quarter since 2014. For the first six months of the year, Deere’s net income of $996 million bettered the $749 million figure a year ago.

Deere chairman and CEO Samuel Allen says the firm is seeing modestly higher overall demand for its products, with farm machinery sales in South America experiencing a strong recovery.

(By Phil Roberts, Davenport)

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Filed Under: Agriculture, Business, News Tagged With: Employment and Labor

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