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Deere earnings up more than 30 percent

Farm equipment giant John Deere reports a more than 30 percent jump in earnings during the first half of 2017.

In a news release, Deere CEO Samuel Allen says improving market conditions are a result of further industry stabilization, leading to modestly higher demand for both farm machinery and construction equipment.

For the first six months of the year, net income attributable to Deere and Company surpassed $996 million, compared to $750 million a year ago.

Full-year earnings are forecast to increase $2 billion on a nine percent sales gain.

While global equipment sales outside the U.S. and Canada grew 13 percent the first half of the year, North American sales were down six percent.

 

 

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