Deere Raises Full-Year Earnings Guidance
August 20 2021 - 6:53AM
Dow Jones News
By Matt Grossman
Deere & Co. raised its full-year earnings guidance Friday,
citing strong market conditions.
The Moline, Ill.-based maker of farm and construction equipment
said it now expects earnings of $5.7 billion to $5.9 billion this
year. In May, the company had forecast earnings of $5.3 billion to
$5.7 billion.
"We expect demand for farm and construction equipment to
continue benefiting from favorable fundamentals," Chairman and
Chief Executive John C. May said.
Sales of production and precision agricultural equipment will
likely rise by 25% to 30% this year, Deere said. Small agricultural
and turf sales will be up about 25%, the company forecast.
Construction and forestry sales will rise by about 30%, it
estimated.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
August 20, 2021 06:48 ET (10:48 GMT)
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