Deere and Co. reported net income of $784.8 million for the fourth quarter ended Oct. 28, or $2.42 per share, compared to $510.3 million or $1.57 per share, for the quarter ended Oct. 29, 2017. The world’s largest tractor maker projected equipment sales to increase by about 7 percent for FY 2019 compared to 29 percent in FY 2018 amid a continued decline in farm income and uncertainty about ag exports due to a trade war with China. Net income for the fourth quarter was $784.8 million, up from $510.3 million for the year-earlier quarter. For fiscal 2018, net income attributable to Deere & Co. was $2.368 billion, or $7.24 per share, compared with $2.159 billion, or $6.68 per share, in 2017. "In our view, the company remains well-positioned to capitalize on growth in the world's agricultural and construction equipment markets,” said Deere CEO Samuel R. Allen. “The replacement cycle for farm machinery is very much alive, despite tensions over global trade and other geopolitical issues.”
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