Content about Deere & Co.

Deere & Co. has posted third-quarter net income of $788.0 million, up 10.6% from $712.3 million for the same period last year.

"John Deere delivered record third-quarter performance in both sales and income," said Samuel Allen, chairman and CEO. "Although a strong quarter, we are not satisfied that sales fell short of our expectations due to weakening in certain international markets and short-term manufacturing inefficiencies resulting from the introduction of a record number of new products." 

Moline, Ill.-based Deere & Co. announced it has completed the sale of its wind energy business, John Deere Renewables, to Chicago-based Exelon Generation Company, a wholly owned subsidiary of Exelon Corporation.

The sale was completed Dec. 10 and consisted of 36 wind projects in eight states- generating 735 operating megawatts of clean, renewable energy- enough to power 160,000 to 220,000 households.