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You are here: Home / Business / Deere reports big first quarter earnings

Deere reports big first quarter earnings

February 19, 2021 By Matt Kelley

Iowa’s largest manufacturing employer is reporting spectacular first-quarter earnings.

Quad Cities-based Deere and Company says net income for the quarter more than doubled from a year ago to more than $1.2 billion, including a 23% gain in net sales.

Deere officials credit the “successful execution of a new operating strategy.” In a news release, chairman and CEO John May says the results were aided by improving conditions in the farm and construction sectors.

The full-year earnings for fiscal 2021 were also increased to a range of 4.6 to $5 billion.

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