Deere profit slumps 41% as farm equipment demand crashes

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Deere & Co reported a 41per cent fall in quarterly profit on Friday as coronavirus-led lockdowns sapped demand for its tractors, harvesters and ...

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REUTERS: Deere & Co reported a 41 per cent fall in quarterly profit on Friday as coronavirus-led lockdowns sapped demand for its tractors, harvesters and other machinery.

Net income attributable to the company fell to US$666 million, or US$2.11 per share, for the second quarter ended May 3, from US$1.14 billion, or US$3.52 per share, a year earlier.

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