Deere Q2 2021 Earnings Report
Key Takeaways
Deere & Company reported a net income of $1.790 billion for the second quarter ended May 2, 2021, a significant increase compared to the previous year. Worldwide net sales and revenues increased by 30 percent, reaching $12.058 billion. The company has raised its full-year earnings forecast to a range of $5.3 billion to $5.7 billion.
Second-quarter earnings increased due to a 34% rise in net sales, indicating strong market conditions and widespread improvement across divisions and geographies.
The equipment division's operating margin of 19.5% demonstrates solid execution and the impact of the company's strategy.
Deere is facing increased supply-chain pressures throughout the year but is actively working with suppliers to mitigate these challenges.
Full-year earnings forecast has been raised to a range of $5.3 to $5.7 billion, reflecting confidence in the company's performance.
Deere
Deere
Deere Revenue by Segment
Forward Guidance
Net income attributable to Deere & Company for fiscal 2021 is forecast to be in a range of $5.3 billion to $5.7 billion.
Challenges Ahead
- Deere expects to see increased supply-chain pressures through the balance of the year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income