Deere Q4 2020 Earnings Report
Key Takeaways
Deere & Company reported net income of $757 million for the fourth quarter ended November 1, 2020, or $2.39 per share. Worldwide net sales and revenues decreased 2 percent, to $9.731 billion, for the fourth quarter of 2020.
Fourth-quarter net income rises 5% aided by strong execution and disciplined cost management.
Improving fundamentals in agricultural sector setting stage for stronger demand in year ahead.
Earnings for 2021 forecast to be $3.6 to $4.0 billion.
Deere expects to benefit from improving conditions in the farm economy and stabilization in construction and forestry markets.
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 $3.6 billion to $4.0 billion.
Positive Outlook
- Deere expects to benefit from improving conditions in the farm economy
- Deere expects stabilization in construction and forestry markets
- Higher crop prices are leading to renewed optimism in the agricultural sector
- Improving fundamentals are improving demand for farm equipment
- Deere is looking forward to realizing the benefits of our smart industrial operating strategy
Revenue & Expenses
Visualization of income flow from segment revenue to net income