Deere & Company revenue increased 5% in Q1, despite economic challenges
Deere & Company says its revenue rose 5% in the first quarter, despite supply chain problems and the November strike.
President and CEO John May says the company’s growth is impressive, despite the challenges posed by the coronavirus pandemic and the ratification of the UAW contract. He said these factors have led to higher production costs this quarter and the company continues to work with its suppliers to meet the needs of manufacturers.
Deere reported net sales of $ 903 million, down 26%, while net sales rose to more than $ 9.5 billion from last year.
The company forecasts net income of nearly $ 7 billion by 2022.
https://brownfieldagnews.com/news/deere-company-revenues-jump-5-percent-in-q1-despite-economic-challenges/ Deere & Company revenue increased 5% in Q1, despite economic challenges