financetom
Business
financetom
/
Business
/
Deere cuts 2024 profit forecast on demand slowdown
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
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)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved