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Deere declares 2nd Q profits with revenues up 30%

Ag/Outdoor, News

May 19th, 2023 by Ric Hanson

(Radio Iowa) – Iowa’s largest manufacturing employer is reporting a very good second quarter. Deere and Company is declaring net income for the quarter at more than two-point-eight billion dollars, up from just over two-billion-even a year ago. The Quad Cities-based farm and construction equipment maker is also reporting worldwide net sales and revenues rose by 30-percent for the quarter, and 31-percent in the past six months.

Chairman and C-E-O John May says in a news release that Deere is continuing to benefit from “favorable market conditions and an improving operating environment,” adding, the company’s on the way “to another year of exceptional achievement.”