Brooke Sutherland, Columnist

Deere's Dour Outlook Tests Faith in Manufacturing Rebound

Whatever the economic data might say, no one really knows anything and everyone is afraid of moving in the wrong direction.

November 27, 2019 at 4:37 PM UTC

By Brooke Sutherland

Brooke Sutherland is Bloomberg News' Boston bureau chief and writes the Industrial Strength Newsletter. She was previously a Bloomberg Opinion columnist covering deals and industrial companies and an M&A reporter for Bloomberg News.

Downbeat guidance could be construed as conservative. Or it might just be accurate. — Downbeat guidance could be construed as conservative. Or it might just be accurate.
Photographer: Daniel Acker/Bloomberg

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Deere & Co. results show the trouble with reading the economic tea leaves.

The maker of tractors and construction equipment slumped on Wednesday after announcing a depressed outlook for fiscal 2020 that caught investors off guard. Deere expects net income to be no higher than $3.1 billion next year, a decline relative to 2019 and well below the $3.46 billion analysts had been modeling. Here was investors’ response:

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