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Deere
🇺🇸 NYSE:DE
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Jan 28, 2024

Deere Q1 2024 Earnings Report

Deere's first quarter earnings were reported, revealing a decrease in net income and worldwide net sales and revenues compared to the same quarter last year, but the company's performance underscored the effectiveness of its Smart Industrial operating model.

Key Takeaways

Deere & Company reported a net income of $1.751 billion for the first quarter ended January 28, 2024, a decrease from $1.959 billion in the same quarter last year. Worldwide net sales and revenues also decreased by 4 percent to $12.185 billion. The company forecasts full-year net income to be between $7.50 billion and $7.75 billion.

Net income for the first quarter was $1.751 billion, or $6.23 per share.

Worldwide net sales and revenues decreased 4 percent to $12.185 billion.

The company's Smart Industrial operating model and workforce dedication enabled improved performance.

Full-year net income is now forecasted to be $7.50 to $7.75 billion.

Total Revenue
$12.2B
Previous year: $12.7B
-3.7%
EPS
$6.23
Previous year: $6.55
-4.9%
Operating Margin
0.18%
Previous year: 23.2%
-99.2%
C&F Operating Margin
17.6%
Previous year: 19.5%
-9.7%
PPA Operating Margin
21.6%
Gross Profit
$4.99B
Previous year: $4.46B
+11.7%
Cash and Equivalents
$5.14B
Previous year: $3.98B
+29.2%
Free Cash Flow
-$1.72B
Previous year: -$1.56B
+10.4%
Total Assets
$101B
Previous year: $91.6B
+10.6%

Deere

Deere

Deere Revenue by Segment

Forward Guidance

Deere & Company forecasts net income attributable to Deere & Company for fiscal year 2024 to be approximately $7.7 billion.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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