Construction sales up by almost 40% for Deere

By Andy Brown26 August 2021

John Deere’s most recent financial statement has revealed that sales for the company’s construction and forestry division were up 38% in the third quarter of 2021 compared to the same quarter last year.

Sales for the OEM were US$3.016 billion compared to US$2.187 billion. Operating profit for the segment was up by a remarkable 126%.

The company, which recently announced the ending of its joint venture with Hitachi, as a whole saw worldwide net sales and revenues increase 29%, to US$11.527 billion, for the third quarter of 2021 compared to the same quarter last year.

“Looking ahead, we expect demand for farm and construction equipment to continue benefiting from favourable fundamentals,” said John C. May, chairman and chief executive officer, John Deere. 

“We are, at the same time, excited by the growing engagement with our digital platform, the John Deere Operations Center, as well as continued adoption of precision technologies, which unlock greater value for our customers.”

In the company’s industry outlook Deere predicted that, for 2021, construction equipment sales would be up 15-20% and compact construction equipment sales would increase by 20-25%.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, World Construction Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Longer Reads
Is electric equipment the answer?
Construction equipment is rapidly evolving to become greener and cleaner
Why ESG-linked loans are impacting construction finances
A way to help fight the climate crisis or a pile of greenwash? How ESG-linked loans are entering the corporate mainstream 
Meeting productivity demands: new compaction equipment
How new roadbuilding and compaction equipment is meeting productivity demands, while keeping emissions low
CONNECT WITH THE TEAM
Andy Brown Editor, International Construction Tel: +44 (0) 1892 786 224 E-mail: andy.brown@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA