Deere’s Construction & Forestry Revenue Rises but Margins Dip
In fiscal 1Q18, Deere & Company’s (DE) Construction & Forestry segment reported revenue of $1.7 billion, a 57.4% rise compared to its fiscal 1Q17 revenue of $1.1 billion. The segment’s revenue growth was mainly the result of the company’s acquisition of Wirtgen Group. The Construction & Forestry segment reported an operating profit of $32.0 million in fiscal 1Q18, a fall of 13.5% from its fiscal 1Q17 operating profit of $37 million.