Deere & Co. raised its 2022 profit forecast on Friday as gaps in grain supplies triggered by Russia’s invasion of Ukraine drive global crop price higher, but the heavy equipment maker’s stock fell after its quarterly revenue missed analysts’ forecasts. The Moline, Illinois-based firm forecast fiscal 2022 net income, including special items, of $7.0 billion…
Deere Expects Bumper Year as Farmers Splurge on Equipment
Deere & Co. on Wednesday shrugged off the hit from a month-long worker strike to forecast record earnings for next year, banking on demand from farmers flush with cash after a run-up in grain prices. The world’s largest farm equipment maker also capped a year riddled with supply chain problems with its highest-ever profit of…
Striking Workers Set for Crucial Vote as Deere Mulls Options
About 10,000 striking workers at Deere & Co. will vote again on Wednesday to approve or reject a modified contract proposed by the company, as the longest strike in more than three decades forces the world’s largest farm equipment maker to consider other options. Deere has not publicly commented on changes to its second contract…
US Agriculture Secretary Vilsack Offers Support to Striking Deere Workers
ANKENY, Iowa—U.S. Agriculture Secretary Tom Vilsack visited striking union members outside a Deere & Co. farm equipment plant in Iowa on Wednesday, telling workers he supports them and the country needs them. Deere employees represented by the United Auto Workers (UAW) are joining thousands of other U.S. workers who have gone on strike in recent…
Union Members Reject Tentative Agreement With John Deere After Months of Negotiations
October 11, 2021
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Members of the United Auto Workers (UAW) overwhelmingly rejected a new tentative agreement with Deere & Co. on Sunday. The tentative agreement was a six-year contract that would have covered more than 10,000 workers at 14 facilities across the United States, including more than 7,000 workers in Iowa, and was the result of efforts made by UAW negotiators….
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