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Deere cuts 2024 profit forecast on demand slowdown
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Deere cuts 2024 profit forecast on demand slowdown
May 16, 2024 3:25 AM

May 16 (Reuters) - Deere trimmed its annual

profit forecast for the second time on Thursday, as farmers buy

fewer tractors and combine harvesters due to falling crop

prices.

The world's largest farm equipment maker said it now expects

fiscal 2024 net income of about $7 billion, compared with its

prior forecast of $7.50 billion to $7.75 billion.

(Reporting by Deborah Sophia in Bengaluru; Editing by Sriraj

Kalluvila)

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