Weak Agriculture Equipment Sales Will Likely Temper Deere's Earnings

Deere revised its revenue guidance further downwards due to continued weakness in the global farm equipment sector. It now forecasts a full fiscal year revenue decline of 6% year-on-year, compared to its previous guidance of 4%. However, Deere revised it net income forecast slightly upwards, from a decline of $3.3 billion to decline of $3.1 billion.