Reported about 2 months ago
Deere & Co reported third-quarter profits that surpassed analysts' expectations, thanks to effective pricing strategies and cost management, which cushioned the impact of declining demand for its farm equipment. The company's shares rose 6% as it maintained a net income forecast of approximately $7 billion for 2024, despite shrinking sales due to low crop prices and high borrowing costs. By carefully managing inventory and production schedules, Deere aims to improve price realizations in its agriculture segments going forward.
Source: YAHOO