Consumer Reports has released its latest member survey results on riding mowers. According to the survey, nearly one-third of riding mowers either break or develop problems in the first 5 years of ownership.
A spokesman for John Deere says procedures are in place to respond to the outbreak in China, where Deere makes farm and construction equipment. Ken Golden says Deere closed its plants temporarily when the government asked it to do so.
Deere & Co. reported that its worldwide net sales and revenues decreased 4% in the first quarter of 2020, ended Feb. 2, to $7.63 billion. Net sales of the company’s equipment operations were $6.53 billion for the quarter, compared with $6.94 billion in 2019; a decline of 6%.
Deere has completed a $24 million, 22,000 square foot project at its Horicon Works manufacturing facility in Horicon, Wis. This comes 3 years after a $43 million, 388,000 square foot expansion project at the same facility.
Deere & Co. reported net income of $722 million for the fourth quarter ended Nov. 3, 2019, compared with net income of $785 million for the quarter ended Oct. 28, 2018. For fiscal 2019, net income attributable to Deere & Co. was $3.253 billion compared with $2.368 billion in 2018.
Worldwide net sales and revenues decreased 3% for the third quarter of 2019 and increased 5% for 9 months. Company equipment sales are projected to increase by about 4% for fiscal 2019 compared with 2018.
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