Tax Reform and a Solid Economy Support the Heavy Equipment Sector Despite U.S. Steel Tariffs
It appears that heavy equipment investors are in for a first-quarter 2018 earnings season even more stellar than we previously expected. In our view, first-quarter performance for companies within the heavy-equipment industry was already likely to be strong, particularly given recent U.S. tax reform, which we believe incentivized both customers and manufacturers to move orders from the fourth quarter of 2017 to the first quarter of 2018 to take advantage of immediate depreciation allowance and l...Deere & Co. operates the following segments: Agriculture and Turf, which manufactures and distributes a line of agriculture and turf equipment and related service parts, including utility tractors, tractor loaders, combines, cotton pickers, cotton strippers, and sugarcane harvesters; Construction and Forestry, which manufactures and distributes a range of machines and service parts used in construction, earthmoving, road building, material handling and timber harvesting, including backhoe loaders and crawler dozers and loaders; and Financial Services, which finances sales and leases by the company's dealers of new and used agriculture and turf equipment and construction and forestry equipment.
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