In a sign that agriculture may be in the midst of an upswing, John Deere reported a fourth-quarter profit that topped estimates, thanks in no small part to farmers looking to purchase combines and tractors.
According to BusinessWeek, the agriculture equipment manufacturer's income rose an astounding 46 percent compared to last year's numbers. The company also projected fiscal profits of $3.2 billion in 2012, higher than the estimated $2.95 billion that analysts had predicted.
The source reports that agriculture equipment made up 78 percent of John Deere's sales in 2011, while construction and forestry equipment comprised about 15 percent. New factories in Brazil, India and Canada have helped bolster the company's sales even further.
There may be a trend toward high-quality equipment so that farmers can ensure richer harvests down the line. Those looking to upgrade their agriculture equipment can find a variety of used items on IronPlanet.
Many items come with IronClad Assurance, which ensures buyers that the equipment they're looking at has been personally inspected by a local representative who has also taken between 50 and 100 photographs.
