Deere & Co Outlook

[Mech]

Deere's first-quarter profit falls 45%; outlook cut
Deepening recession, higher costs make predictions 'uncertain'

 

[radman1]

Not surprising. The Ag sector had tremendous sales in 2007 and 2008. It was offsetting the industrial sector. Both are now in a slump. Farmers have dramatically decreased purchases due to falling prices. Equipment being sold now was ordered in 2008 when there was a several month delay. Also the new equipment they purchased will last for several more years.

 

[Phineas7]

At least they made a profit!

I was at the local dearly last week. He said is was slow the last month or so of '08, but things had picked up after the 1st of the year. January was a really good month for them. FWIW, I'm really not in an "ag" area, they sell mostly to people with a little bit of acerage like me.

 

[wolc123]

premature since we are only about 1/2 way thru the first quarter.

 

[dgl24087]

I stopped at my dealership to pay for some parts I had ordered, they only 2 compacts on the lot, several 5x03's and 5x25's, plus 2 new 6000 series. They were working up a price for a 5525 4wd cab tractor for someone, had 3 other customers there for parts. They did have 4 new Silverado 2500 HD 4x4 Duramax pickups in the back being readied for decals.

 

[bruiserx2]

I spoke with a dealer in CT today. He said things are very slow and not much is moving. I asked him about any new promotions or finance programs that might be coming out in March. He said he was not aware of anything but if I was going to buy I should wait and see. For what I am looking to buy they are offering 4years and 0%. I can not imagine getting better terms than that.

Anyone out there hear anything???

 

[CCWKen]

premature since we are only about 1/2 way thru the first quarter.

Not really. It depends on a company's Fiscal Year not calendar year. JD's fiscal year ended October 31, 2008. So their "first quarter" ended January 31, 2009.