Deere & Co. posted higher sales and profit in its fiscal second quarter on strong demand for its farm and construction equipment, even as the company confronts supply-chain challenges and inflation weighs on American farmers.
Chief Executive John May said that supply-chain pressures disrupted production levels and deliveries during the quarter and that the company is working with suppliers and dealers to address those challenges. Still, it is seeing strong demand from customers. Both profit and sales rose at double-digit rates in the latest period.
