Deere & Company Defies the Agricultural Cycle: Diversification and Technology Pay Off!

Diversification Pays Off On May 21, Deere & Company (DE) reported its results for the second quarter. Total revenue increased by almost 5% compared to the previous year, reaching $13.37 billion, clearly surpassing the consensus estimate of $11.56 billion. Although net income slightly decreased to $1.773 billion, earnings per share came in higher than expected at $6.55, beating the anticipated $5.70. The management's strategy of focusing on a diversified portfolio paid off for investors, as weaknesses in the primary agricultural sector were...