Iowa Public Television

 

Deere & Co. Expected to Report Flat 4th-Quarter Profits

posted on November 24, 2009


MOLINE, Ill. (AP) - Analysts expect Deere & Co. to report essentially flat profits for the company's fourth fiscal quarter.

The Moline-based farm equipment maker reports its results for the August-through-October period before financial markets open Wednesday morning.

Analysts like Eli Lustgarten of Longbow Research say Deere is saddled by low demand for its farm and construction equipment. Prices for big crops like corn and soybeans have fallen from the highs of a couple of years ago, and the sluggish global economy is holding back construction.

Deere, though, has started to call back some laid-off workers and ramp up production.

 


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