(Radio Iowa) – Deere & Company, Iowa’s largest manufacturing employer, reports its first quarter income was down, but there’s optimism for the year ahead. Deere reports net income was 656 million in the first quarter compared with to 869 million dollars in the first quarter last year. Worldwide net sales and revenues increased 13 percent compared to the same quarter last year.

Deere C-E-O John May says in a statement that the global large agriculture industry continues to experience challenges, but they’re encouraged by the ongoing recovery in demand for construction and small agriculture. May says the positive developments reinforce their belief that 2026 represents the bottom of the current cycle and provides a strong foundation for accelerated growth going forward.