25
Nov
15:41
Deere records earnings of $2.75 billion for 2020
Heavy equipment producer and plate consumer Deere & Company ended the fiscal year with a profit of $2.75 billion, Kallanish reports.
Sales during the fiscal year ended 1 November totalled $35.54 billion, down -9% from fiscal 2019.
Last year, Deere earned $3.25 billion.
Covid-19 was mainly to blame for the drop in both revenue and net profit, says ceo John May.
Moving forward, those challenges should ease, he says, and the company wil…
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Very good overview of the weekly steel market.
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