Deere profit drops 18%, misses expectations

[AndyMA]

Deere profit drops 18%, misses expectations


Deere's profit drops 18%, misses expectations - Nov. 26, 2008

Andy

 

[MessickFarmEqu]

Thats amazing. The sales of big farm equipment has been BOOMING! I would have expected Deere to have a big year. Maybe their profitability is more bound to hats and toys than you would think.

 

[Farmwithjunk]

Thats amazing. The sales of big farm equipment has been BOOMING! I would have expected Deere to have a big year. Maybe their profitability is more bound to hats and toys than you would think.

Looks to me that they had a big year in light of what's happening all around them. Profits didn't meet EXPECTATIONS. They still turned a nice buck. Not many companies are operating in the black as we speak. Deere's AG line held up their end of the plan. Frankly, I'm suprized they didn't take a BIGGER hit in the consumer products line, as well as construction and logging.

How many large industrials do you suppose would just LOVE to be paying simular dividends to stock holders? I'm not a green through and through sort of person myself, but they hold their corporate head high even in these tough times

 

[gamble77]

Deere's earnings for the year were $2.05 BILLION...that is a record and the fith year in a row they have posted record net income. Funny how you can take a company like Deere who has posted increase after increase and let them have one quarter where they don't meet expectations and people start to jump on the dooms day wagon...DO YOUR RESEARCH GUYS!!

 

[wolc123]

What are the numbers for Kubota who caters more towards the homeowner/ranchette market?

 

[6string]

It's a good thing I bought a new tractor(3005) from them or their profits would be down more than 18 percent huh!

 

[MessickFarmEqu]

What are the numbers for Kubota who caters more towards the homeowner/ranchette market?

Operating income increased ･6.5 billion (5.0%), to ･136.9 billion ($1,369 million), from the prior year, the highest level in the Company痴 history.

Thats from the SEC report.

 

[deereguy]

I haven't been following world grain markets, just local elevator prices lately, but isn't Brazil and South America's ag base growing, like it was a few years ago? Deere was building bigger, larger equipment for the huge acres that were going to be farmed down there, I thought they were built in the US and shipped to South America or have I been out of the loop for a few years?

My local deere dealer was busy getting 12 new combines ready for delivery (they were on the lot) in September and getting the trades ready for sale, but grain markets still looked decent then.

 

[TomWhite]

Operating income increased ･6.5 billion (5.0%), to ･136.9 billion ($1,369 million), from the prior year, the highest level in the Company痴 history.

Thats from the SEC report.

Is there a mis-placed decimal somewhere in there. or am I just not awake yet? I mean 136.9 billion does not equal 1,369 million. 1,000 million equals 1 billion, right?

 

[California]

...am I just not awake yet?

That looks about right, 136.9 billion Yen =1,369 million Dollars, with the exchange rate at about 100 Yen per Dollar.

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