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Companies in the timber industry / Daily News / Forestry / Woodworking machinery / Europe / Global / North America
November 24, 2016

John Deere reports significant drop in sales of forestry and construction equipment

John Deere reports significant drop in sales of forestry and construction equipment

For the fourth quarter ended October 31, worldwide net sales of John Deere registered a decline of 3 percent, to  $6.520 billion, and decreased 8 percent, to $26.664 billion, for the 12 months of the company's fiscal year.

John Deere has completed a successful year in spite of continuing weakness in the global agricultural and construction equipment sectors, said Samuel R. Allen, chairman and chief executive officer of John Deere.

John Deere's construction and forestry sales decreased 5 percent for the quarter and 18 percent for the year, largely as a result of lower shipment volumes and higher sales-incentive costs.

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