In lowa, John Deere has announced that they made $1.734 billion in the third quarter of 2024, despite having to lay off many workers at their factories in Waterloo, Dubuque, and Moline, illinois. Over 1000 workers in lowa have lost their jobs recently.
According to their report, John Deere’s share price was $6.29 at the end of July, down from $10.20 per share last year. For comparison, the company made $2.978 billion in the third quarter of 2023.
Worldwide, John Deere’s total sales and earrings dropped by 17% to $13.152 billion in the most recent quarter. Specifically, their sales for this quarter were $11.387 billion, and for the first nine months of the year, they reached $35.484 billion. Last year, during the same periods, they made $14.284 billion and $ 41.765 billion, respectively.
John Deere Chairman and Chief Executive Officer John C. May issued a statement on the third quarter sales in its report.
May said, “John Deere’s third-quarter results showcase our disciplined execution in the face of challenging conditions in the global agricultural and construction sectors…Despite facing significant headwinds, our teams have demonstrated resiliency in adapting to market fluctuations, allowing us to remain focused on advancing our strategy and consistently providing exceptional value to our customers.”
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