Deere Q2 2023 Earnings Report
Key Takeaways
Deere & Company reported net income of $2.860 billion for the second quarter ended April 30, 2023, or $9.65 per share, compared with net income of $2.098 billion, or $6.81 per share, for the quarter ended May 1, 2022. Worldwide net sales and revenues increased 30 percent, to $17.387 billion, for the second quarter of 2023.
Sound execution contributes to net sales gain of 34% and higher earnings.
Results benefit from healthy demand for farm and construction equipment and improved operating environment.
Full-year net income forecast increased to $9.25 billion to $9.50 billion with cash flow from equipment operations expected to be $10.00 billion to $10.50 billion.
Deere continues to benefit from favorable market conditions and an improving operating environment.
Deere
Deere
Deere Revenue by Segment
Forward Guidance
Net income attributable to Deere & Company for fiscal 2023 is forecast to be in a range of $9.25 billion to $9.50 billion.
Revenue & Expenses
Visualization of income flow from segment revenue to net income