John Deere sees Q1 drop - KHL Group
News feeds Mobile apps Tablet Editions News widget Need help?

John Deere sees Q1 drop

Written by Helen Wright - 14 Feb 2013

Equipment manufacturer John Deere saw a slow start to the year in its construction and forestry division, reporting a -7% year-on-year drop in sales for the three months to 31 January to US$ 1.3 billion.

Construction and forestry operating profit for the quarter was US$ 71 million, compared with U$ 124 million for the same period a year before.

John Deere said the drop was due to lower shipment volumes. In addition, it said higher production costs, an unfavourable product mix, as well as increases in research and development and general expenses had impacted the result, although these factors were offset to some extent by higher selling prices.

For the full year, John Deere forecast that its construction and forestry equipment sales would increase +3% – a figure that it said reflected a cautious outlook for US economic growth and higher international sales of construction equipment.

CLICK HERE FOR MORE INTERNATIONAL CONSTRUCTION TOP STORIES
Print Friendly and PDF Email to a friend

Back to top


MOST POPULAR
FREE e-Newsletters







 

NEW FROM KHL

SPECIAL REPORT

  • The European Used Tracked Excavator Market ReportThe European Used Tracked Excavator Market Report

    This report is a joint publication between KHL Group, the world’s leading provider of international construction information, and Lectura, the leading provider of construction machinery data and ...


    More...