John Deere Reports Strong Sales Thanks To Farm Sector

John Deere recently reported that worldwide net sales and revenues increased 18 percent for the second quarter of this year.

According to John Deere...

Favorable conditions across the global farm sector are helping to drive the company's record financial results even at a time of a slowing U.S. economy. "Advanced offerings that help efficiently meet the world's growing need for farm products are lending strong support to our performance and are bringing John Deere quality and value to a growing global audience," said Robert W. Lane, chairman and chief executive officer.

"All our businesses are benefiting from the consistent execution of our plans to create a fundamentally more resilient enterprise. As a result, the company's non-agricultural operations have remained solidly profitable in spite of the economic downturn in the United States, while our performance overall continues on a record pace."

Source: John Deere

Caterpillar sales and revenue up in tough economy

Despite the turmoil in the US Economy, Caterpillar recently announced sales and revenues were up 18 percent and profit per share up 18 percent.

According to Caterpillar...

"I am pleased to be able to report record results this quarter, particularly given the tough economic conditions we're experiencing in the United States," said Chairman and Chief Executive Officer Jim Owens. "The sales increase was the result of a tremendous effort by our employees, dealers and suppliers to support customers.

We continue to see robust demand for products used in the global mining and energy industries and for machines used by our customers to build infrastructure, particularly in emerging markets. These record results are a remarkable testament to our global strength, the diversity of the end-markets we serve and the strength of our integrated service businesses.

Source: Caterpillar