Deere & Co. posts 80 percent second quarter gain

MOLINE, Ill. - Deere & Co. announced May 13 a worldwide net income of $256.9 million for the second quarter ended April 30, an increase of more than 80 percent over last year’s second quarter net income of $141.8 million. For the first six months, net income was $324.9 million, more than triple last year’s six-month net income of $103.6 million.

Sales volumes were up across all three major equipment divisions. The Commercial and Consumer Equipment Division, which includes the golf and turf business, increased sales by 12 percent. Sales for the first six months increased 19 percent, compared with last year, when the division implemented deep production and shipment cutbacks to reduce company and field inventories.

In other John Deere news, its Golf & Turf One Source division has been named the exclusive supplier of golf course maintenance equipment and financing to Evergreen Alliance Golf Limited (EAGL), a golf course management company servicing more than 40 courses around the country.

Through the agreement, John Deere Golf & Turf One Source will be supplying John Deere golf and turf maintenance equipment to the superintendents of each EAGL course, including all mowing, aeration and specialty turf products. John Deere will also provide exclusive financing to all EAGL courses.