John Deere is reporting a significant drop in income compared to a year ago. Their second quarter net income of $1.8 billion, a drop from nearly $2.4 billion at the end of the same quarter last year. For the first six months of the fiscal year, Deere’s net income was almost $2.7 billion, versus $4.1 billion a year ago. Worldwide net sales and revenues for the agricultural equipment maker were down 16% for the quarter and 22% for six months. Deere chairman and CEO John May says he’s proud the company’s employees and dealers are showcasing resilience in supporting customers amidst heightened uncertainty.
