Deere's earnings impacted by trade war

Deere & Co.'s fiscal first-quarter earnings were adversely impacted by higher raw materials costs, as well as ongoing trade tensions with China.

Net income came to $498.5 million, or $1.54 per share, short of analysts' expectations.

“Despite unsettled conditions in some of our key markets, Deere expects to achieve strong financial results in 2019,” Chairman and CEO Samuel Allen said. “This is a testament to the success of our actions to create a more flexible cost structure, expand our global customer base and develop leadership in the latest precision technologies."

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