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DEERE & CO. ISSUES OUTLOOK REPORT
May 22, 2015
Source: Deere & Co. news release
To read the entire report click here.
Company Outlook & Summary
Company equipment sales are projected to decrease about 19 percent for fiscal 2015 and to be about 17 percent lower for the third quarter compared with year-ago periods. Included in the forecast is a negative foreign-currency translation effect of about 4 percent for the full year and 6 percent for the third quarter. For fiscal 2015, net income attributable to Deere & Company is anticipated to be about $1.9 billion.
"John Deere expects to be solidly profitable in 2015, with the year ranking among our stronger ones in sales and earnings despite the pullback in the farm sector," Deere CEO Samuel Allen said.
"Such an achievement illustrates our success establishing a wider range of revenue sources and a more durable business model. All in all, we remain confident in the company's present direction and in its ability to meet customer needs for advanced machinery and innovative services in the years ahead."
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