(Radio Iowa) Iowa’s largest manufacturing employer issued another banner financial report this (Friday) morning.
Quad Cities-based John Deere says its third quarter earnings show a net income for the quarter exceeding one-point-six billion dollars. That’s more than twice the income of 811-million in the same quarter a year ago. For the first nine months of the fiscal year, Deere says net income hit nearly four-point-seven billion dollars, compared to just under two-billion for the same period last year. Worldwide net sales and revenues rose 29 percent. Deere CEO John May said in a statement he expects “demand for farm and construction equipment to continue benefiting from favorable fundamentals.”