Deere & Company’s net sales and revenues increased by 29 percent in its third quarter. Net income rose by 106 percent.
In production and precision agriculture, net sales also increased by 29 percent. The company reported operating profit in that category at 50 percent for the quarter.
In small agriculture and turf, net sales increased by 32 percent, and operating profits climbed 73 percent.
In its 2021 outlook for Canada and the U.S., Deere forecasts a 25 percent increase in sales of large ag equipment and a 10 percent increase in small ag and turf.