Mark Goebel / Flickr

The ongoing global farm recession and weak construction markets pushed down sales and profits for John Deere. Today it reported results for its 2016 fiscal year. Sales and revenue dropped 8 per cent, and net income fell 21 per cent, compared to the previous year. Despite those figures, chairman and CEO Sam Allen says 2016 was one of Deere's ten best years for both sales and profits.  

Deere Lays Off 900

Jan 23, 2015

Deere and Company will lay off 900 workers in Iowa and Illinois, as it anticipates declines in sales of farm equipment. But the Quad Cities' workforce won't be hit quite as hard as in Des Moines and Waterloo.

Friday, Deere announced 565 employees at three Waterloo facilities will lose their jobs, along with 300 at the Des Moines Works in Ankeny.

Deere reports decrease in quarterly earnings

Aug 13, 2014

Lower demand for farm equipment is affecting Deere and Company's bottom line. But it still predicts full-year profits will be the second highest ever. Deere is reporting third quarter earnings of $851 million. That’s $2.33 per share, compared to $2.56 last year.  Ken Golden, Director of Global Public Relations, says worldwide sales from May through July dropped five percent to $9.5 billion. Sales fell eleven percent in Deere's Agriculture and Turf Division. He says that means production schedules will change. 

Deere and Company sets another record

Nov 20, 2013

 For the fourth year in a row, Deere and Company set yet another earnings record. The company announced net income of 3.5 billion dollars for the fiscal year that ended in October. That's nine-dollars-and-nine-cents per share, compared to 7-63 last year.