Deere’s Profit Remains Pressured Despite Higher Quarterly Sales

Deere DE 2.24%increase; green up pointing triangle logged higher sales in its fiscal fourth quarter as agricultural trends began to improve, but the company issued a downbeat forecast for the current year and said tariffs and uncertainty are expected to continue to weigh on earnings.

The world’s largest seller of farm equipment on Wednesday posted a profit of $1.07 billion for its three months ended Nov. 2, down from $1.25 billion in last year’s comparable quarter. On a per-share basis, earnings were $3.93, ahead of the $3.84 that analysts polled by FactSet had expected.