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.”