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You are here: Home / Agriculture / John Deere reports drop in third quarter income

John Deere reports drop in third quarter income

August 21, 2020 By Matt Kelley

Iowa’s largest manufacturing employer is reporting another down quarter.

Quad Cities-based John Deere reports net income for the third quarter of $811 million. That’s down from $899 million a year ago. Worldwide net sales and revenues dropped 11% for the quarter and 12% for the past nine months.

In a news release, Deere CEO John May says, “Although unsettled market conditions and related customer uncertainty are expected to have a moderating effect on key markets in the near term…Deere is well positioned to help make our customers more profitable and sustainable.”

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