John Deere’s earnings are down, but still beat expectations. Deere reported a fourth quarter net-income of more than $1.2 billion. That’s down from $2.3 billion from the same quarter last year. Deere says its net-income for Fiscal Year 2024 was $7.1 billion. That’s down $3 billion compared to the year prior.
It’s been a difficult year for John Deere’s workforce in Iowa. The company has laid off hundreds of workers in Dubuque, Waterloo, and the Quad Cities because of what the company says is slower demand for farm equipment.
Last week, the company announced it is closing its Ottumwa facility temporarily.
