Deere forecast net income of $3.6 billion-$4.0 billion for fiscal 2021 as it expects to benefit from improving conditions in the farm economy and stabilization in the construction and forestry markets.
Sales of Caterpillar’s autonomous technology for mining operations have been growing at a double-digit percentage clip this year, cushioning the fall somewhat of its traditional equipment sales.
Farmers and ranchers are struggling to bring their goods to market because of coronavirus-led restrictions, crushing demand for equipment like harvesters and tractors.
The companies, whose policies have won the support of the UAW and other unions to run their facilities during the pandemic, offer a template for returning workers to idled factories in other sectors.
