John Deere reports big increase in net income for 2017 fiscal ye - KWWL - Eastern Iowa Breaking News, Weather, Closings

John Deere reports big increase in net income for 2017 fiscal year

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MOLINE, Ill. (KWWL) -

John Deere had a good year.

The company reported net income of $2.16 billion for the fiscal year ending Oct. 29 compared to $1.52 billion for the previous fiscal year, according to a press release from the company sent Tuesday morning.  That's an increase of 42 percent.

Those earnings are the fifth highest in company history.

"John Deere has completed another successful year as markets for farm and construction equipment showed improvement and our actions to build a more durable business model yielded strong results," said Samuel R. Allen, chairman and chief executive officer.

The 2018 forecast calls for net income of $2.6 billion. 

Check out the full press release here: https://www.deere.com/en/our-company/news-and-announcements/news-releases/2017/corporate/fourth-quarter-earnings/.

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