Deere profit falls 6.1%, cuts FY19 profit and sales… – News Report


May 17 – Deere & Co on Friday reported a 6.1% fall in second-quarter profit, hit by higher production costs and lowered its full-year outlook for profit and sales.

The U.S. farm equipment maker said it now expects full year equipment sales to rise by 5 percent, compared with a 7 percent rise, previously.

The company lowered its fiscal 2019 profit outlook to $3.3 billion, from its prior forecast of $3.6 billion.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Shailesh Kuber)


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