Deere profit falls on sluggish demand
(Reuters) – Deere (NYSE:) & Co reported a lower second-quarter profit on Thursday, as high borrowing rates and plummeting farm incomes hampered demand for the company’s tractors and other farm equipment.
The company reported a net income of $1.73 billion, or $6.29 per share, for its third quarter, compared with $2.98 billion, or $10.20 per share, a year earlier.
