A year after reporting a loss due to federal tax changes, Deere and Company reports first quarter earnings came in at the second highest level ever. Deere says from November through January, net income totaled 499 million dollars, or one-dollar-54 per share. And sales rose 16 percent to six-point-nine (6.9) billion dollars. Despite that, Spokesman Ken Golden says farmers are worried about how tariffs and trade policies will affect them.
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He says the payments to make up for losses from the tariff war have helped some.
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Deere’s earnings projection for the full year is the same as three months ago. Deere expects profits will reach a record level of three-point-six (3.6) billion dollars. And sales will increase seven percent.