Deere said it boosted its workforce when demand surged during the COVID-19 pandemic, which roiled supply chains, only for the farm economy to start slowing.

Deere & Co. unexpectedly maintained its annual profit outlook as the world’s top tractor maker sought to cut costs in a slumping farm economy.

Deere’s fiscal second-quarter results beat Wall Street’s expectations, but the company lowered its full-year profit forecast for a second time as farmers buy fewer tractors.

Deere & Co. lifted its financial outlook for the year as machinery demand from farmers remained robust despite slumping crop prices.