Deere misses earnings, says farmers delaying purchases due to trade war


John Deere combine harvesters sit on display during the Farm Progress Show in Boone, Iowa, U.S., on Tuesday, Aug. 28, 2018.

Daniel Acker | Bloomberg | Getty Images

Shares of Deere fell on Friday after the equipment company missed earnings expectations for its fiscal third quarter and lowered guidance for the full year, saying farmers were delaying purchases because of uncertainty around the trade war.

The equipment company reported adjusted earnings of $2.71 per share on $8.97 billion in revenue. Analysts expected $2.85 in earnings per share and $9.39 billion in revenue, according to Refinitiv.

The stock, already down 13% this month, was lower by another 3% in premarket trading Friday.



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