Deere & Co. released its first quarter fiscal 2015 earnings on Friday, which were better than expected despite heavy declines.
Deere reported net sales of $5.6 billion, a decline of 19% year-on-year, compared to analyst expectations of $4.9 billion.
The construction and forestry equipment divisions generated $6.59 billion in revenue and is the second highest revenue generating division for the company behind the agriculture and turf equipment division. Construction and forestry equipment sales are expected to grow due to the overall trend of growing construction activity.
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