Deere reports lower profit on muted farm equipment demand

Reuters

02/13

Feb 13 (Reuters) - Deere & Co DE.N reported lower first-quarter profit on Thursday, as more farmers switched to renting tractors and other equipment due to weak incomes and high borrowing rates.

The world's largest farm-equipment maker reported a net income of $869 million, or $3.19 per share, compared with $1.75 billion, or $6.23 per share, a year earlier.

(Reporting by Shivansh Tiwary in Bengaluru; Editing by Sriraj Kalluvila)

((Shivansh.Tiwary@thomsonreuters.com; +91 9708363192; X: @Shivansh_19_;))

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Co <span>DE.N</span> reported lower first-quarter profit on Thursday, as  more farmers switched to renting tractors and other equipment due to weak incomes and high borrowing rates.</p><p>The world's largest farm-equipment maker reported a net income of $869 million, or $3.19 per share, compared with $1.75 billion, or $6.23 per share, a year earlier.</p><p> (Reporting by Shivansh Tiwary in Bengaluru; Editing by Sriraj Kalluvila)</p><p> ((Shivansh.Tiwary@thomsonreuters.com; +91 9708363192; X: @Shivansh_19_;))</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999003800.SGD","symbol_name":"Nikko AM Global Dividend Equity Acc SGD-H","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250213:nL4N3P40ZG:1","article_id":"2511548150","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2511548150","pubTimestamp":1739444751,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Deere reports lower profit on muted farm equipment demandFeb 13  - Deere & Co DE.N reported lower first-quarter profit on Thursday, as  more farmers switched to renting tractors and other equipment due to weak incomes and high borrowing rates.The world's largest farm-equipment maker reported a net income of $869 million, or $3.19 per share, compared with $1.75 billion, or $6.23 per share, a year earlier.  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