22
May
15:32
US' Deere expects to see profits halved
US heavy equipment producer and plate consumer Deere & Company expects its 2020 earnings to be roughly half of their 2019 levels, the company says in its fiscal second-quarter earnings review.
Deere expects full-year earnings to be $1.6-2 billion in 2020, down from about $3.25 billion in 2019, largely due to the Covid-19 pandemic.
In the quarter ended 3 May, the company earned $665.8m on sales of $9.25 billion - down from earnings of $1.14 billion…
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Very good overview of the weekly steel market.
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