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https://www.wsj.com/articles/deere-de-q1-earnings-report-2023-18226f1d

Farm-Sector Strength Drives Rising Demand for Deere Equipment

Manufacturer says output is improving from easing supply chains, declining raw-materials costs

Deere has benefited from favorable market conditions and higher levels of production.Photo: MICHELE TANTUSSI/REUTERS
By Bob Tita

Deere & Co. said it expects demand for its farm equipment to remain strong as farmers convert their rising incomes into purchases of tractors, crop harvesters and other machinery. 

Deere on Friday raised its profit forecast for the year after its quarterly income more than doubled from a year earlier, and sales increased by more than one-third. Deere executives said the company is benefiting from a strong farm economy, while operations improve at its factories because of diminished supply-chain disruption and some lower costs for production.   

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This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.