Deere beat earnings and revenue expectations for its fiscal first quarter.
"John Deere's first-quarter performance reflected early signs of stabilization in the U.S. farm sector," CEO John May said in a statement.A Deere & Co. John Deere 9560 combine harvester unloads soft red winter wheat during a harvest in the village of Kirkland in Dekalb, Illinois, July 9, 2018.spiked Friday morning after the agriculture company topped estimates for its fiscal first quarter and said the farming sector in the United States is starting to stabilize.
"John Deere's first-quarter performance reflected early signs of stabilization in the U.S. farm sector," CEO John May said in a statement. Sales in the company's agriculture and turf segment were down 4% compared with the same quarter last year, but operating profit rose 7% segment. The company said operating profit grew in part due to lower production costs.
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