Deere declares Second Quarter profits with revenues up 30%
May 19, 2023 10:59AM CDT
QUAD CITIES — 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 $2.8 billion, up from just over $2 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% for the quarter, and 31% 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.”