Deere posts lower Q2 results

Deere & Co. posted second-quarter net income of $495.4 million, or $1.56 per share, a drop from $690.5 million, or $2.03 per share, a year earlier.

Global net sales and revenue declined 4 percent to $7.9 billion.

The company also reduced its fiscal year net income forecast to $1.2 billion from $1.3 billion due to a global farm recession and weak construction equipment markets.

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