United Group Insurance

John Deere reports 3rd quarter sales and revenue down 11%

Ag/Outdoor

August 21st, 2020 by Ric Hanson

(Radio Iowa) – 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 dollars. That’s down from 899-million a year ago. Worldwide net sales and revenues dropped 11-percent for the quarter and 12-percent 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.”