Deere’s Profit Hit From Higher Costs and Delayed Parts Deliveries

Deere'S Profit Hit From Higher Costs And Delayed Parts Deliveries - Medium

Deere & Co. lowered its profit forecast for the year as rising production costs put pressure on profit margins, despite increasing sales of farm equipment.

The Moline, Ill.-based company, the largest supplier of farm equipment in the U.S., has been boosting prices this year to offset growing costs. Demand for the company’s green and yellow tractors, harvesters and other equipment remains strong, the company said. Elevated crop prices are keeping farmers interested in new machinery even as their own production expenses increase from higher costs for seed, fertilizer, fuel and other supplies.

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