Deere Profit Falls on Weak Farm Equipment Demand
Farm equipment maker Deere posted a second-quarter net income of $1.77 billion, down from $1.8 billion a year earlier, as sluggish demand for large machinery persisted. Weak crop prices, rising costs, and tariffs on imports have pressured the sector, though Deere's overall revenue grew 5% to $13.37 billion. Heavy equipment sales fell 14%, offset partly by gains in smaller agriculture and construction segments.
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Deere & Co posted second-quarter net income of $1.77 billion, down from $1.8 billion a year earlier, as demand for large farm machinery remained weak. Farmers have delayed equipment purchases due to low crop prices and rising operational costs. Weakness in heavy equipment reflects broader pressure on agricultural profitability.
