Wautoma, WI
Current Conditions
0:56 AM CDT
Cloudy
Temperature
65°F
Dew Point
29°F
Humidity
26%
Wind
W at 17 mph
Barometer
29.89 in. F
Visibility
10.00 mi.
Sunrise
07:24 a.m.
Sunset
05:57 p.m.
Afternoon Forecast (12:00pm-7:00pm)
Temperatures will range from 59 to 54 degrees with clear skies. Winds will range between 12 and 17 miles per hour from the west. No precipitation is expected.
7-Day Forecast
Saturday
59°F / 38°F
Sunny
Sunday
58°F / 38°F
Partly Cloudy
Monday
65°F / 44°F
Partly Cloudy
Tuesday
53°F / 35°F
Partly Cloudy
Wednesday
49°F / 35°F
Partly Cloudy
Thursday
46°F / 39°F
Light Rain
Friday
40°F / 25°F
Partly Cloudy
Detailed Short Term Forecast
Issued at 0:56 AM CDT
Saturday...Temperatures will range from a high of 59 to a low of 38 degrees with clear skies. Winds will range between 7 and 17 miles per hour from the westnorthwest. No precipitation is expected.
This Evening ...Temperatures will range from 51 to 42 degrees with clear skies. Winds will remain steady around 8 miles per hour from the west. No precipitation is expected.
Overnight ...Temperatures will range from 42 to 38 degrees with clear skies. Winds will remain steady around 9 miles per hour from the west. No precipitation is expected.
Sunday...Temperatures will range from a high of 58 to a low of 38 degrees with partly cloudy skies. Winds will range between 2 and 10 miles per hour from the southeast. Less than 1 tenth inch of rain is possible.

Deere cuts 2013 sales growth guidance

May 23, 2013 | 0 comments

Deere & Co. said that bad weather and weak economies will hinder sales growth this year for lawnmowers and construction equipment.

The company reported better-than-expected second-quarter earnings and maintained its full-year profit prediction. Sales of farm gear such as its big green John Deere tractors and combines are still strong and growing, the company said.

But the lower overall sales outlook sent its shares skidding over 4 percent lower, down $4.13 to close at $89.64 Wednesday. They had been trading near their 52-week high of $95.60.

Deere said sales of farm and construction equipment would rise 5 percent during the current fiscal year, which is now half over. It had previously predicted growth of 6 percent.

The reduced sales expectation came after a long, cold winter in North America delayed the planting of this year's seeds. It also slowed construction work and reduced demand for turf-care equipment such as lawnmowers, the company said.

CEO Samuel R. Allen also said Deere's "near-term forecast is being tempered by lingering economic concerns in many parts of the world, which are restraining business confidence and growth."

Deere's second-quarter net income rose 3 percent to $1.08 billion, or $2.76 per share. That was up from $1.06 billion, or $2.61 per share, during the same period last year.

That topped analysts' average estimates for earnings of $2.71 per share.

Revenue from equipment sales rose 9 percent to $10.27 billion from $9.41 billion a year earlier. Analysts had expected equipment revenue of $9.82 billion. Including financial services, Deere revenue rose 9 percent to $10.91 billion.

Deere raised prices 3 percent and shipped more gear during the quarter.

The company predicted that sales of construction and forestry gear would fall 5 percent for the full year. Those sales were down 6 percent in the most recent quarter as shipments declined.

Sales of farm and turf equipment grew 12 percent for the quarter, and Deere predicted an increase of 7 percent for the full year.

Commodity prices are still relatively high and farm incomes are continuing to support demand for farm equipment.

It predicted full-year sales gains of 5 percent in the U.S. and Canada, but said sales in Europe will decline 5 percent after a poor harvest in the U.K. last year.

Sales in South America are expected to rise 15-20 percent because of strong market conditions in Brazil.

Deere's full-year profit prediction of $3.3 billion is unchanged.

For the first half of fiscal 2013, net income rose 9 percent to $1.73 billion, or $4.41 per share, up from $1.59 billion, or $3.91 per share during the first half of 2012.

Total revenue rose 9 percent to $18.34 billion, with equipment sales rising 10 percent to $17.06 billion.

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