Second quarter net income dipped for Quad Cities-based John Deere. This year, Iowa’s largest manufacturing employer reported only $1.8 billion dollars in Q2 net income, a significant drop from almost $2.4 billion at the end of the same quarter last year.
For the first six months of the fiscal year, Deere’s net income was almost $2.7 billion, versus $4.1 billion a year ago; worldwide net sales and revenues for the agricultural equipment maker were down 16 percent for the quarter and 22 percent for six months.
Deere chairman and CEO John May says he’s proud the company’s employees and dealers are showcasing resilience in supporting customers amidst heightened uncertainty.
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