"We believe Deere is well-positioned to capitalize on further growth in the world's agricultural and construction equipment markets," CEO Samuel Allen says.
After some lean years for agricultural machinery sales, farmers are “buying equipment again to replenish aging fleet."
The company continues to be optimistic about market conditions, predicting equipment sales will increase 10% this year.
The company sees "signs of further stabilization" in market conditions as it reports its first sales increase in 13 quarters.
“We are seeing signs that after several years of steep declines key agricultural markets may be stabilizing."
