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Deere & Co. raised its full-year profit forecast amid strong demand for farm equipment and the easing of supply chain woes that have dogged companies since the pandemic.
The US tractor maker lifted its outlook as it reported second-quarter profit that beat analyst estimates on Friday, citing healthy demand for farm and construction equipment and an improved operating environment. The company now expects earnings of $9.25 billion to $9.5 billion for the fiscal year that ends Oct. 31.