Deere & Co cut its 2024 profit forecast on Thursday as farmers remained hesitant about big-ticket equipment purchases due to high borrowing rates and falling crop prices, even as its first-quarter sales and profits topped Wall Street estimates. Shares of the world's largest farm equipment maker were down 3.3% in premarket trading. With farmers reassessing expenses, particularly for compact tractors, Deere said it now expects net income for fiscal 2024 in the range of $7.50 billion to $7.75 billion.
(Bloomberg) Deere & Co. trimmed its profit outlook for this year as tumbling crop prices give farmers less money to use on equipment purchases. The shares declined.Most Read from BloombergJapan Loses Its Spot as World's Third-Largest Economy as It Slips Into RecessionIsrael Quits Ceasefire Talks Over ‘Delusional’ Hamas DemandsThe Brutal Reality of Plunging Office Values Is HereTrump Eyes NATO Makeover, Hurried Peace in Ukraine If ElectedDip Buyers Wade Back In to Fuel Wall Street Gains: Marke
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08.11.2022 - Crawford & Company (NYSE: CRD-A and CRD-B), the world’s largest publicly listed independent provider of claims management and outsourcing solutions to carriers, brokers and corporations, today announced its financial results for the third quarter .