Deere Earnings: Surviving and Thriving

Deere reported weak results for the first quarter, but this was not surprising given broadly telegraphed challenges facing most of its end markets. Sales and net income were down 30% and 50%, respectively, at a group level. The core Production & Precision Agriculture business struggled the most, down nearly 40% and 70% in terms of sales and operating profit. Small Agriculture & Turf declined nearly 30% and 60%, and Construction & Forestry declined approximately 40% and 90%.