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Deere’s sales up 23 percent in fourth quarter


Deere & Co. closed out its fiscal year on a strong note with $8.02 billion in worldwide net sales for its fourth quarter, a 23 percent increase from fourth quarter 2016. Net income attributable to the company was $510.3 million, or $1.57 per share, for the fourth quarter ended Oct. 29, compared with $285.3 million, or 90 cents per share, for the quarter ended Oct. 30, 2016. “John Deere has completed another successful year as markets for farm and construction equipment showed improvement and our actions to build a more durable business model yielded strong results,” said Samuel Allen, chairman and CEO. The year’s sales and earnings were the fifth-highest in the company’s history. Equipment net sales in the United States and Canada increased 23 percent for the quarter and 5 percent for the year. Outside the U.S. and Canada, net sales increased 30 percent for the quarter and 20 percent for the year. 

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