All articles tagged with #farm equipment
The EPA issued guidance clarifying that the Clean Air Act supports farmers’ and equipment owners’ right to repair nonroad diesel equipment, stating they can access repair tools and software and use temporary emission-control overrides for repairs. This aims to cut repair costs and reduce dependency on dealers without changing emission standards, potentially boosting productivity for farmers.
Deere & Co cut its 2024 profit forecast due to farmers' reluctance to make big equipment purchases amid high borrowing rates and falling crop prices, leading to a 5.4% drop in its shares. The company expects net income for fiscal 2024 to be $7.50 billion to $7.75 billion, below analysts' predictions. Demand for farm equipment is anticipated to be weaker in Central and Eastern Europe due to ongoing conflict in Ukraine and extreme weather conditions impacting crop yields. Deere plans to manage inventory levels and cut equipment production in 2024 while operating margins contracted due to lower sales of large agriculture equipment.