Deere Earnings: Better Than Expected Results Overshadow Weaker Outlook

As expected, the primary driver behind the decline in revenue and earnings was Deere's Agriculture and Turf division. Though the Construction and Forestry, and Financial Services divisions were positive, it was not enough to offset the decline in agricultural equipment sales. Unlike the previous quarter, the market did not respond negatively to the weak earnings outlook for the fiscal year. Deere now expects its fiscal 2015 net sales to decline 17%, compared to previous guidance of a 15% decline...