Deere reported its first earnings decline since the economic bottom of 2016/2017 as higher costs more than offset higher sales.
The company is being pressured by uncertainty among farmers and bad weather.
Nonetheless, we might be close to the start of an equipment replacement cycle as both the economy and sentiment among farmers are bottoming.
John Deere's (DE) just released fourth quarter was not pretty. The company reported declining earnings for the first time since the 2017 bottom, as production costs and overall slower margins hit already weak