Skip to content
AnalystLens

DE · DEERE & CO

50 filings

10-Q

DE 10-Q Quarterly Reports

DEERE & CO - 50 quarterly reports

Filing record · 2016–202610-K1110-Q348-K164

DE filed 11 annual reports (10-K), 34 quarterly reports (10-Q) and 164 current reports (8-K) between 2016 and 2026.

  1. FY2018 annual report10-K · Dec ’18Dec ’18
  2. Leadership change8-K · Nov ’21Nov ’21
  3. Leadership change8-K · Sep ’25Sep ’25
  1. 2026-Q3

    DEERE & CO Quarterly Report for Q3 Ended Aug 2, 2026

    Deere & Company's third quarter of fiscal 2026 (ended August 2, 2026) shows top-line growth driven by the Construction & Forestry and Small Agriculture & Turf segments, offsetting weakness in Production & Precision Agriculture. Net sales and revenues rose 5% in the quarter to $12,608 million and 7% year-to-date to $35,589 million. However, net income attributable to Deere fell 4% for the nine months to $3,808 million, held back by a $502 million net tariff cost, higher material costs, and a prior-year special tax benefit. Diluted EPS for the quarter was $5.10, up from $4.75, while year-to-date EPS of $14.06 was down from $14.57. Segment performance was mixed. PPA net sales fell 7% year-to-date and operating margin compressed to 11.8% from 16.4%, reflecting weak large-ag demand in North America and Brazil. SAT and CF delivered strong gains, with SAT operating profit up 30% year-to-date and CF operating profit up 67%, supported by volume growth and price realization. Tariff recoveries of $382 million following the February 2026 Supreme Court ruling provided a meaningful one-time benefit to cost of sales, which investors should weigh when assessing underlying margin trends. Balance sheet and cash flow highlights include higher trade receivables and short-term borrowings, which pushed total cash-flow dynamics toward seasonal working capital build. Operating cash flow was $3,250 million, versus $3,464 million a year earlier. Cash returned to shareholders totaled $2,013 million in the first nine months, and the board declared a quarterly dividend of $1.62 per share. Management expects 2026 net sales to rise, with PPA declining more than offset by CF and SAT, and expects fiscal 2026 capital expenditures of about $1.3 billion.

    Aug 27, 2026
  2. 2026-Q2

    DEERE & CO Quarterly Report for Q2 Ended May 3, 2026

    Deere & Company's fiscal Q2 2026 (quarter ended May 3, 2026) showed mixed results: net sales and revenues rose 5% to $13.4 billion and 8% year-to-date to $23.0 billion, but net income attributable to Deere fell 2% to $1.77 billion in the quarter and 9% to $2.43 billion year-to-date. Diluted EPS was $6.55 versus $6.64 a year ago (six-month diluted EPS $8.97 versus $9.82). The top-line growth was driven by Construction & Forestry (sales up 29% in the quarter) and Small Agriculture & Turf (up 16%), which offset a 14% decline in Production & Precision Agriculture (PPA) sales. PPA operating margin compressed to 15.7% from 22.0%, reflecting lower large-ag shipment volumes, higher material costs, and tariffs. Cash generation and balance sheet items warrant attention. Operating cash flow was $1.04 billion for the first six months, up from $568 million, but receivables and inventory build absorbed much of the seasonal cash. Trade receivables rose to $7.6 billion from $5.3 billion at fiscal year-end, while financing receivables declined as agricultural retail demand softened. Total assets were $107.0 billion and total borrowings remained elevated, with short-term borrowings at $15.6 billion. The company returned $1.38 billion to shareholders in the first half through dividends and buybacks, and remains rated A/A1/A+ with stable outlooks. Management guides to 2026 net sales growth, with a PPA decline more than offset by gains in CF and SAT. Management expects large-ag demand in North America and South America to weaken. A recovery of roughly $272 million from IEEPA tariff refunds lowered cost of sales in the quarter, and the company faces an ongoing FTC antitrust lawsuit over right-to-repair, with no estimate of financial impact yet.

    May 28, 2026
  3. 2026-Q1

    DEERE & CO Quarterly Report for Q1 Ended Feb 1, 2026

    Deere & Company's first quarter of fiscal 2026 (ended February 1, 2026) showed a sharp divergence between top-line growth and profitability. Net sales and revenues rose 13% to $9.611 billion, driven by higher equipment shipment volumes in Small Agriculture & Turf and Construction & Forestry, plus favorable currency translation. However, net income attributable to Deere fell about 25% to $656 million from $869 million, and diluted EPS dropped to $2.42 from $3.19. The decline was driven primarily by $361 million in pretax incremental tariff costs, which Deere said had a $272 million after-tax impact, and by a prior-year one-time favorable discrete tax benefit of $163 million. Production & Precision Agriculture operating margin compressed to 4.4% from 11.0%, reflecting tariffs, adverse sales mix, and higher warranty expense. Segment performance was mixed. SAT operating profit rose 58% on higher volumes and price realization, and CF operating profit more than doubled, though tariffs weighed on both. Financial Services net income increased 6% to $244 million on better financing spreads and lower credit provisions, even as revenue fell with the deconsolidation of Banco John Deere. Consolidated interest expense fell 13% to $719 million, helped by lower borrowing rates and balances. Cash flow from operations was negative $890 million, a seasonal pattern tied to inventory build and employee incentive payouts. Management expects 2026 net sales to rise overall, with lower large-ag sales in North America offset by gains in SAT and CF, and flat operating cash flow from equipment operations. Key items for investors include the pending FTC right-to-repair antitrust lawsuit, where Deere is in preliminary settlement discussions, and the February 20, 2026 Supreme Court ruling invalidating IEEPA tariffs, which could provide tariff relief and potential refunds that Deere is still evaluating. Deere also completed the $440 million acquisition of Tenna LLC after quarter end and declared a $1.62 quarterly dividend. Liquidity remained solid, with $8.2 billion in cash and marketable securities and $7.2 billion in unused credit lines.

    Feb 26, 2026
  4. 2025-Q3

    DEERE & CO Quarterly Report for Q3 Ended Jul 27, 2025

    Deere & Company's third-quarter fiscal 2025 results (quarter ended July 27, 2025) show a clear cyclical downturn in its equipment business. Net sales and revenues fell 9% to $12,018 million for the quarter and 18% to $33,290 million year-to-date. Net income attributable to Deere fell 26% to $1,289 million in the quarter and 32% to $3,962 million for the nine months, with diluted EPS of $4.75 versus $6.29 a year ago. Results were pressured by lower shipment volumes in production and precision agriculture and construction and forestry, higher tariffs (about $300 million direct cost in the first nine months), and unfavorable price realization from incentive programs aimed at elevated used inventory. Equipment operations' Q3 operating margins compressed sharply, with CF falling to 7.7% and PPA to 13.6%. Management expects fiscal 2025 agriculture, turf and construction volumes to be lower than 2024, citing high interest rates, trade uncertainty, weak commodity prices and used inventory. Balance sheet metrics remain solid: cash and marketable securities were $9,987 million, unused credit lines were $6,150 million, and the financial services debt-to-equity ratio was 8.6 to 1. Credit quality is a watch item, with the allowance for credit losses rising in the first nine months on elevated agriculture and turf delinquencies. Deere continued returning capital, with $2,418 million paid to shareholders year-to-date, including $1,136 million in buybacks and $1,282 million in dividends. The company also faces an FTC and state attorneys general antitrust suit over right-to-repair, which management says it cannot yet assess. Overall, the filing points to a weaker near-term earnings cycle, with a strong liquidity position and a dividend declared at $1.62 per share. Because the company's fiscal year 2025 is a 53-week year, the extra week falls in Q4, which may affect year-over-year comparisons for the full year. Investors should watch the fourth-quarter results for evidence of stabilization in equipment demand and for the outcome of the FTC litigation.

    Aug 28, 2025
  5. 2025-Q2

    DEERE & CO Quarterly Report for Q2 Ended Apr 27, 2025

    Deere & Company's second-quarter fiscal 2025 results (quarter ended April 27, 2025) show a sharp earnings decline driven by lower equipment sales volumes. Net sales and revenues fell 16% to $12.8 billion for the quarter and 22% to $21.3 billion for the six months. Net income attributable to Deere fell 24% to $1.80 billion for the quarter (diluted EPS $6.64, versus $8.53) and 35% to $2.67 billion year-to-date (diluted EPS $9.82, versus $14.74). Management attributes the decline mainly to lower shipment volumes in Production & Precision Agriculture and Construction & Forestry, higher interest rates and used inventory levels, unfavorable currency effects, and rising overhead and tariff costs. Operating profit fell 26% in the quarter, with Construction & Forestry down 43% and PPA down 30%, while Small Agriculture & Turf was roughly flat and Financial Services was stable. Credit quality is a watch item. The allowance for credit losses rose on higher expected losses in agriculture and turf retail accounts, reflecting elevated delinquencies and weaker market conditions. Equipment operations' cash flow from operations was $1.05 billion for the first six months, down from $3.03 billion, and total consolidated operating cash flow was $568 million, down from $944 million. Management expects lower operating cash flows from equipment operations for 2025. Cash returned to shareholders was $1.68 billion year-to-date, funded partly by higher external borrowings. Deconsolidation of Banco John Deere, after a 50% stake sale to Bradesco in February 2025, reduced financing receivables and borrowings. Management guides to lower agriculture and turf and construction sales volumes for the remainder of 2025. It cites tariffs (about $95 million of direct incremental cost in the quarter) and a pending FTC and state antitrust lawsuit over right-to-repair practices, whose outcome cannot yet be predicted. The company maintains strong credit ratings (A/A1/A+) and declared a quarterly dividend of $1.62 per share.

    May 29, 2025
  6. 2025-Q1

    DEERE & CO Quarterly Report for Q1 Ended Jan 26, 2025

    Deere & Company's first-quarter fiscal 2025 results (quarter ended January 26, 2025) show a sharp earnings decline driven by lower equipment sales volumes. Net sales and revenues fell 30% to $8.5 billion from $12.2 billion, and net income attributable to Deere fell 50% to $869 million from $1.75 billion, with diluted EPS of $3.19 versus $6.23. Equipment operations net sales dropped 35% to $6.8 billion, with production and precision agriculture (-37%), small agriculture and turf (-28%), and construction and forestry (-38%) all down materially. Construction and forestry operating margin compressed to 3.3% from 17.6%, and total operating profit fell 64%. Financial services was the one bright spot, with net income up 11% to $230 million, though this was helped by a special valuation allowance reversal tied to the Brazil business. Cash flow and balance sheet trends were mixed. Operating cash flow was negative $1.13 billion, reflecting the seasonal payout of employee profit-sharing, higher inventories ($7.7 billion, up 27% on a LIFO-adjusted basis versus prior-year trends), and lower accrued expenses. Cash and marketable securities totaled $7.8 billion, and unused credit lines rose to $7.8 billion. Deere returned $844 million to shareholders in the quarter through buybacks ($441 million) and dividends ($403 million), and $520 million was contributed to a U.S. OPEB plan. Management expects lower sales volumes and lower operating cash flow from equipment operations for fiscal 2025, citing market uncertainty, high interest rates, elevated used inventories, and potential tariffs. Key risks flagged in the filing include a new FTC and state attorneys general antitrust lawsuit (filed January 15, 2025) over right-to-repair practices, which Deere says it cannot yet estimate the impact of, along with rising credit-loss provisions in financial services from elevated delinquencies. The Banco John Deere Brazil joint venture with Bradesco was completed in February 2025, leaving Deere with a 50% equity stake that will be accounted for as an unconsolidated affiliate. The company declared a $1.62 quarterly dividend, unchanged from the prior declaration.

    Feb 27, 2025
  7. 2024-Q3

    DEERE & CO Quarterly Report for Q3 Ended Jul 28, 2024

    Deere & Company's third-quarter fiscal 2024 10-Q (quarter ended July 28, 2024) shows a clear downturn in equipment demand. Net sales and revenues fell 17% in the quarter to $13.2 billion and 11% year-to-date to $40.6 billion, driven by lower shipment volumes across production and precision agriculture, small agriculture and turf, and construction and forestry. Net income attributable to Deere fell 42% to $1.73 billion in the quarter (diluted EPS $6.29 vs. $10.20), and 25% to $5.86 billion year-to-date (diluted EPS $21.04 vs. $26.35). Management expects production volumes to keep declining through the rest of 2024 and forecasts lower equipment sales in all major agricultural markets and lower construction industry sales. Margins compressed across the equipment segments, with production and precision agriculture operating margin at 22.8% in the quarter versus 26.2% a year ago. Higher interest expense (up 35% in the quarter) and a higher provision for credit losses in financial services weighed on earnings. The quarter also included $135 million of special items: roughly $120 million in employee-separation program costs and a $15 million loss tied to the planned sale of 50% of Banco John Deere S.A. in Brazil, which was reclassified as held for sale and is being transferred to a joint venture with Banco Bradesco. Cash returned to shareholders was $4.4 billion year-to-date, funded partly by higher external borrowings, with total borrowings rising and cash flow from operations down to $4.1 billion from $2.9 billion a year earlier on a consolidated basis. For investors, the central questions are the depth and duration of the agricultural and construction cycle, whether cost actions and pricing can protect margins, and whether financial services credit quality holds as delinquencies rise. The company maintains strong investment-grade ratings (A+/A1/A) and has substantial unused credit lines, but the earnings trajectory and rising leverage in the financial services arm are the key watch items.

    Aug 29, 2024
  8. 2024-Q2

    DEERE & CO Quarterly Report for Q2 Ended Apr 28, 2024

    Deere & Company's second-quarter fiscal 2024 10-Q (quarter ended April 28, 2024) shows a clear cyclical downturn in equipment demand, with net sales and revenues falling 12% to $15.2 billion for the quarter and 9% to $27.4 billion year-to-date. Net income attributable to Deere fell 17% to $2.37 billion in the quarter and 14% to $4.12 billion for six months, and diluted EPS dropped to $8.53 from $9.65 (quarter) and $14.74 from $16.18 (six months). Production & precision agriculture and small agriculture & turf sales declined sharply, with segment operating margins compressing (PPA 25.1% vs. 27.7%; SAT 17.9% vs. 20.5%). Management guides to continued production declines through the rest of 2024, lower agricultural industry sales in North America, Europe, and South America, and flat-to-down construction equipment demand. Financial services was a bright spot, with quarterly net income rising to $162 million from $28 million, driven by a larger average portfolio, though this was partly offset by a higher provision for credit losses tied to elevated agricultural delinquencies. Interest expense rose 47% in the quarter as borrowing rates and balances increased, and it is a material drag on consolidated earnings. Operating cash flow was only $944 million in the first half versus a $147 million outflow a year earlier, while shareholder returns of $3.2 billion (buybacks plus dividends) were partly funded by new external borrowings, which rose by about $2.2 billion in the first six months. Balance sheet strength remains solid, with cash and marketable securities of $6.6 billion, a stable A-range credit profile (A+/A1/A ratings with stable outlooks), and a $1.47 quarterly dividend declared. Investors should weigh the near-term earnings pressure from volume declines and margin compression against Deere's continued buybacks, technology investments, and the resilience of its financial services portfolio.

    May 30, 2024
  9. 2024-Q1

    DEERE & CO Quarterly Report for Q1 Ended Jan 28, 2024

    Deere & Company's first-quarter fiscal 2024 results (quarter ended January 28, 2024) show a clear slowdown from the prior-year period. Net sales and revenues fell 4% to $12,185 million from $12,652 million, driven by lower shipment volumes in production and precision agriculture and small agriculture and turf. Net income attributable to Deere declined 11% to $1,751 million, and diluted EPS dropped to $6.23 from $6.55. Management expects production volumes to decline further in 2024 as demand moderates toward more normal levels, and it forecasts lower operating cash flows for the year. The quarter's most notable pressure point is interest expense, which rose 67% to $802 million on higher average borrowing rates and larger average borrowings. Operating profit in equipment segments fell as well: production and precision agriculture operating profit dropped 13%, small agriculture and turf 27%, and construction and forestry 9%. Financial services was a relative bright spot, with revenues up 32% and net income up 12% on a 19% larger average receivables portfolio, although management flagged continued financing spread compression from elevated interest rates. Cash flow and balance sheet trends also warrant attention. Operating cash use was $908 million, and cash, equivalents and marketable securities declined to $6,273 million from $8,404 million at fiscal year-end. Total assets were $101,371 million and total borrowings rose year over year, while the company continued returning capital, with $1,714 million paid to shareholders in the quarter through buybacks and dividends. Credit ratings remain strong (A+/A1/A), and management reiterated that the company has access to funding at reasonable cost.

    Feb 29, 2024
  10. 2023-Q3

    DEERE & CO Quarterly Report for Q3 Ended Jul 30, 2023

    Deere & Company's Q3 FY2023 10-Q (quarter ended July 30, 2023) shows a strong quarter driven by pricing and volume. Net sales and revenues rose 12% to $15.8 billion for the quarter and 24% to $45.8 billion year-to-date. Net income attributable to Deere reached $2.98 billion for the quarter (up 58%) and $7.80 billion year-to-date (up 60%), with diluted EPS of $10.20 and $26.35. Results were helped by price realization, a sharply improved cost of sales ratio (67.4% vs. 73.2%), and a $243 million favorable Brazil tax ruling. Management expects strong demand to persist, with full order books and favorable crop prices supporting farm income. The main investor concerns are in the financial services segment and the balance sheet. Financial services net income for the nine months fell 34% to $429 million, reflecting compressed financing spreads ($133 million after-tax headwind), a $173 million pretax accounting correction to dealer financing incentives, and a higher provision for credit losses. Interest expense more than doubled for the nine months to $1.67 billion from $713 million, as higher rates and a larger portfolio increased borrowing costs. Total assets grew to $103.4 billion, and total borrowings rose substantially, with short-term borrowings up to $17.1 billion. Management expects spread compression to persist through the rest of 2023. Capital returns remained significant: the company repurchased $4.7 billion of stock year-to-date and paid $1.1 billion in dividends, with $15.6 billion still authorized under the $18 billion repurchase program. Operating cash flow improved to $2.9 billion from $418 million, though it was still absorbed by receivable growth. Management forecasts higher operating cash flow for full-year 2023 and capital expenditures of about $1.65 billion.

    Aug 31, 2023
  11. 2023-Q2

    DEERE & CO Quarterly Report for Q2 Ended Apr 30, 2023

    Deere & Company's second-quarter fiscal 2023 10-Q (quarter ended April 30, 2023) shows a very strong operating quarter. Net sales and revenues rose 30% to $17.4 billion, and net income attributable to Deere increased 36% to $2.86 billion, or $9.65 diluted EPS versus $6.81 a year earlier. Six-month results were similarly strong, with net income up 61% to $4.82 billion. Growth was driven by higher shipment volumes and price realization across production and precision agriculture, small agriculture and turf, and construction and forestry. Production and precision agriculture operating margin reached 27.7% in the quarter, up from 20.7%, and the cost of sales ratio improved to 66.7% from 74.1%. Results were also helped by supply chain improvements and a comparison against a prior-year $326 million non-cash gain. The filing also flags several areas of pressure. Financial services net income fell 87% in the quarter to $28 million, reflecting tighter financing spreads, a higher provision for credit losses, and a $135 million after-tax correction to the accounting for dealer financing incentives. Interest expense more than tripled in the quarter, to $569 million from $187 million, as rates rose. Management expects spread compression to persist through 2023 and forecasts lower full-year financial services net income versus 2022. Balance sheet growth is notable: trade receivables rose to $9.97 billion, and short-term borrowings and long-term debt both increased. Operating cash flow was negative $147 million for the six months, driven by working capital needs, and unused credit lines fell sharply to $785 million from $4.6 billion a year earlier. Capital returns remained significant. The company repurchased $2.5 billion of stock in the first half and declared a $1.25 per share quarterly dividend, and $17.7 billion remained under the December 2022 buyback authorization. Management expects strong demand to persist through 2023, with order books full and dealer inventories low, though it cautioned that supply chain constraints and macroeconomic factors, including rising rates and banking-sector stress, remain uncertainties.

    Jun 1, 2023
  12. 2023-Q1

    DEERE & CO Quarterly Report for Q1 Ended Jan 29, 2023

    Deere & Company's first-quarter fiscal 2023 10-Q (quarter ended January 29, 2023) shows a sharply stronger top line and profitability versus the prior-year quarter. Net sales and revenues rose 32% to $12.65 billion from $9.57 billion, and net income attributable to Deere climbed to $1.96 billion ($6.55 diluted EPS) from $903 million ($2.92). The prior-year quarter was depressed by supply chain disruptions, the UAW ratification bonus, and Russia-related effects, so the year-over-year comparison flatters the underlying trend somewhat. Equipment operations drove the improvement: production & precision agriculture operating profit rose to $1.21 billion (23.2% margin) from $296 million, and construction & forestry operating profit more than doubled to $625 million. Management attributed these gains mainly to price realization and better shipment volumes as supply chain conditions improved, while cost of sales as a percent of net sales fell to 69.6% from 78.5%. Balance sheet and cash flow show the cost of growth. Net cash used for operating activities was $1.25 billion, an outflow driven by working capital, mainly inventory build ($10.1 billion, up from $7.9 billion a year earlier) and receivables growth. Financing receivables and leases are growing rapidly, with total acquisition volumes up 31%, and total borrowings rose sharply. Interest expense more than doubled to $479 million, reflecting higher rates and a larger debt base. Financial services net income fell 20% to $185 million on tighter financing spreads, and management expects spread compression and lower financial services earnings to persist for fiscal 2023. Unused credit lines fell to $1.58 billion from $5.87 billion a year earlier, as commercial paper rose to support working capital needs, which is worth monitoring. For investors, the filing points to a strong demand backdrop with order books full through most of 2023 and dealer inventories historically low, while risks include persistent inflation, rising interest rates, continued supply chain constraints, and a weaker outlook for turf and utility equipment. Deere also repurchased $1.26 billion of stock in the quarter and declared a $1.25 per share quarterly dividend, reflecting continued capital returns. The company remains rated A2/A/A+ with stable to positive outlooks. Management expects higher operating cash flow for fiscal 2023 driven by net income and a favorable working capital change.

    Feb 23, 2023
  13. 2022-Q3

    DEERE & CO Quarterly Report for Q3 Ended Jul 31, 2022

    Deere & Company's Q3 fiscal 2022 10-Q (quarter ended July 31, 2022) shows strong top-line and earnings growth. Net sales and revenues rose 22% to $14.1 billion for the quarter and 13% to $37.0 billion year-to-date. Net income attributable to Deere was $1.88 billion for the quarter (+13%) and $4.89 billion for the nine months (+4%), with diluted EPS of $6.16 and $15.88 respectively. Growth was driven by price realization and higher shipment volumes in production and precision agriculture, which posted quarterly net sales up 43%. Results were partly offset by higher production costs and supply chain pressures, and the nine-month figures were helped by a one-time $326 million non-cash gain from remeasuring the Hitachi excavator joint venture stake, while Russia/Ukraine-related charges and a $90 million UAW ratification bonus weighed on results. Cash and balance sheet dynamics are the main investor watch items. Operating cash flow was only $418 million for the first nine months versus $4.3 billion a year earlier, reflecting a $2.4 billion increase in trade receivables, a $2.5 billion inventory build, and a $1.0 billion voluntary OPEB contribution. Cash, equivalents and marketable securities fell to $5.1 billion from $8.7 billion at fiscal year-end, and unused credit lines dropped to $1.96 billion from $5.77 billion. Total borrowings rose, and the company repurchased $2.48 billion of stock while paying $971 million in dividends. Management still expects favorable conditions into fiscal 2023, and the board declared a $1.13 quarterly dividend after quarter-end. The company's exposure to Russia is modest but real, with a net exposure of about $436 million after suspending shipments, and the company recorded $127 million of pretax Russia/Ukraine expense in the nine months. The Inflation Reduction Act of 2022 was enacted after quarter-end and is not expected to have a material effect. Overall, the filing presents a company with robust pricing power and profit growth, offset by working capital absorption, reduced liquidity headroom, and continued geopolitical and supply chain risk.

    Sep 1, 2022
  14. 2022-Q2

    DEERE & CO Quarterly Report for Q2 Ended May 1, 2022

    Deere & Company's second-quarter fiscal 2022 (quarter ended May 1, 2022) showed strong top-line growth alongside margin pressure. Net sales and revenues rose 11% to $13.37 billion, and net income attributable to Deere increased 17% to $2.10 billion, or $6.81 diluted EPS (vs. $5.68). Growth was driven by price realization and higher shipment volumes across production & precision agriculture and construction & forestry. However, the cost of sales ratio rose to 74.1% from 72.1%, reflecting higher production costs, and six-month operating profit in production & precision agriculture fell 18%. Results were also affected by special items: a $326 million non-cash gain from remeasuring the Deere-Hitachi joint venture (boosting other income) was partly offset by roughly $120 million of pretax Russia/Ukraine-related charges, including impairments and credit reserves. Cash flow and balance sheet trends warrant attention. Operating cash flow was negative $1.76 billion for the first six months, driven by a $1 billion voluntary OPEB contribution and a $2.3 billion inventory build tied to strong demand and supply chain disruptions. Cash and equivalents fell to $3.9 billion from $8.0 billion at fiscal year-end. Total equipment operations' debt to capital improved to 35%, and the company returned $1.2 billion through buybacks and $649 million in dividends in the first half. Management also announced a quarterly dividend increase of about 8% to $1.13 per share, effective after quarter end. Management's fiscal 2022 outlook calls for U.S. and Canada large ag machinery industry sales up about 20% and construction equipment up about 10%, with financial services earnings expected slightly lower on higher credit loss provisions. Investors should weigh the strong earnings and demand momentum against elevated input costs, supply chain constraints, the Russia exit exposure (about $454 million net), and the working-capital-driven cash burn.

    May 26, 2022
  15. 2022-Q1

    DEERE & CO Quarterly Report for Q1 Ended Jan 30, 2022

    Deere & Company's (DE) first quarter fiscal year 2022 results showed a decrease in net income to $903 million from $1.224 billion in the prior year's comparable quarter, with diluted earnings per share falling to $2.92 from $3.87. This decline was primarily driven by increased production costs, supply chain challenges, and higher research and development expenses, partially offset by favorable price realization across its segments. Despite the year-over-year profit decline, overall net sales and revenues saw a modest increase of 5% to $9.569 billion, reflecting strong demand for its agricultural and construction equipment. The company continues to navigate a challenging operating environment characterized by persistent supply chain disruptions and inflationary pressures. Management highlighted ongoing efforts to mitigate these impacts through close collaboration with suppliers and strategic pricing adjustments. The acquisition of a majority stake in battery technology provider Kreisel Electric, Inc. in February 2022 signals Deere's commitment to future growth and technological advancement, particularly in electrification. Looking ahead, industry sales for large agricultural machinery and construction equipment are forecasted to increase, providing a positive outlook for demand, though managing production costs and supply chain efficiencies remain key priorities.

    Feb 24, 2022
  16. 2021-Q3

    DEERE & CO Quarterly Report for Q3 Ended Aug 1, 2021

    Deere & Company reported strong financial results for the third quarter and first nine months of fiscal year 2021, significantly exceeding prior year performance. Net sales and revenues increased by 29% and 27% respectively for the respective periods, driven by robust demand across all major product lines, including Production & Precision Agriculture, Small Agriculture & Turf, and Construction & Forestry. This growth was fueled by higher shipment volumes and favorable price realization. The company also saw a substantial increase in net income, more than doubling year-over-year for the third quarter and showing a significant rise for the nine-month period. Despite persistent supply chain pressures, Deere & Company demonstrated strong operational execution. The financial services segment also performed well, with increased operating profit driven by higher average portfolio balances, improved operating lease residual values, and a lower provision for credit losses. The company's strategic focus on technology and precision agriculture continues to be a key driver of its success. Looking ahead, Deere expects continued strong industry sales across its segments, though it acknowledges ongoing supply chain challenges and broader economic uncertainties.

    Aug 26, 2021
  17. 2021-Q2

    DEERE & CO Quarterly Report for Q2 Ended May 2, 2021

    Deere & Company reported robust financial results for the second quarter and the first six months of fiscal year 2021, demonstrating a significant rebound and strong growth compared to the prior year. Net sales and revenues saw a substantial increase of 30% for the quarter and 25% year-to-date, driven by higher shipment volumes, favorable price realization across all segments, and strong worldwide market demand for both agricultural and construction equipment. Net income attributable to Deere & Company more than doubled year-over-year, reflecting improved operational efficiency and strong top-line growth. The company's strategic focus on its 'smart industrial' operating model continues to yield positive results, enhancing profitability and customer value. Despite ongoing supply chain pressures, the company expressed optimism for a strong full fiscal year, actively working with suppliers to mitigate disruptions. The financial services segment also performed well, benefiting from lower provision for credit losses and improved financing spreads. The company's financial position remains solid, supported by healthy cash flows and access to credit markets, positioning it well to navigate current market challenges and deliver continued value to shareholders.

    May 27, 2021
  18. 2021-Q1

    DEERE & CO Quarterly Report for Q1 Ended Jan 31, 2021

    Deere & Company (DE) reported a strong first quarter for fiscal year 2021, with significant year-over-year growth in net sales and net income. Net sales increased by 19% to $9.11 billion, driven by robust performance across all major segments, particularly Production and Precision Ag and Small Ag & Turf, which saw sales growth of 22% and 27% respectively. Net income attributable to Deere & Company more than doubled, reaching $1.22 billion, or $3.87 per diluted share, compared to $517 million, or $1.63 per diluted share, in the prior year period. This strong financial performance reflects improved industry conditions, higher shipment volumes, and effective price realization, demonstrating the positive impact of the company's 'smart industrial' operating strategy. The company's financial services segment also demonstrated resilience, with operating profit increasing by 44% due to favorable financing spreads and a lower provision for credit losses. Despite ongoing uncertainties related to the COVID-19 pandemic and supply chain challenges, Deere & Company's outlook for industry sales in agriculture and construction for 2021 remains positive, indicating continued demand for its products and services.

    Feb 25, 2021
  19. 2020-Q3

    DEERE & CO Quarterly Report for Q3 Ended Aug 2, 2020

    Deere & Company (DE) reported financial results for the third quarter ended August 2, 2020, with a notable decline in net sales and revenues compared to the prior year, reflecting the economic impact of the COVID-19 pandemic. Despite the top-line decrease, the company demonstrated operational resilience, with improvements in operating profit for the Agriculture and Turf segment driven by price realization and cost management. However, the Construction and Forestry segment experienced a significant drop in sales and operating profit due to lower shipment volumes. The company maintained a strong liquidity position with substantial cash and cash equivalents, enabling it to navigate the uncertain economic environment. Management is actively implementing strategic initiatives to enhance efficiency and agility, including employee separation programs aimed at cost reduction and organizational streamlining. Investors should monitor the ongoing impact of COVID-19 on global demand, supply chain stability, and customer financial health.

    Aug 27, 2020
  20. 2020-Q2

    DEERE & CO Quarterly Report for Q2 Ended May 3, 2020

    Deere & Company (DE) reported its fiscal second quarter results for the period ending May 3, 2020. The company experienced a significant year-over-year decline in net sales and revenues, down 18% to $9.25 billion, impacted by lower shipment volumes across its Agriculture and Turf, and Construction and Forestry segments. This was largely attributed to the economic disruptions and uncertainties caused by the COVID-19 pandemic, which affected customer demand, supply chains, and production. Despite the revenue decrease, the company demonstrated resilience by managing costs effectively, leading to a decrease in operating profit by 37% to $965 million. Net income attributable to Deere & Company fell 41% to $666 million, resulting in diluted earnings per share of $2.11, down from $3.52 in the prior year's comparable period. The company proactively bolstered its liquidity position during the quarter, significantly increasing its cash and cash equivalents and issuing new debt, while also suspending share repurchases and reducing planned capital expenditures in response to the uncertain economic outlook. Management highlighted the company's essential business designation and its efforts to protect employees and maintain operations to serve customers.

    May 28, 2020
  21. 2020-Q1

    DEERE & CO Quarterly Report for Q1 Ended Feb 2, 2020

    Deere & Company's Q1 fiscal year 2020 filing shows a decrease in net sales and revenues compared to the prior year, primarily driven by lower volumes in the agriculture and turf, and construction and forestry segments. While net income attributable to Deere & Company saw a modest increase to $517 million from $498 million, this was aided by discrete tax benefits. The company implemented a voluntary employee separation program, which impacted operating results but is expected to yield annual savings. Despite the sales decline, the company is navigating market challenges with strategic initiatives aimed at efficiency and organizational focus. The financial services segment experienced revenue growth but a decline in operating profit. Management expresses optimism regarding stabilization in the U.S. farm sector and the role of precision technologies, while acknowledging ongoing concerns related to trade, economic uncertainty, and geopolitical events.

    Feb 27, 2020
  22. 2019-Q3

    DEERE & CO Quarterly Report for Q3 Ended Jul 28, 2019

    Deere & Company's Q3 2019 filing (period ending July 28, 2019) shows a slight decrease in net sales for the quarter, primarily due to lower shipment volumes and unfavorable currency translation, although price realization provided some offset. For the nine-month period, net sales saw a modest increase, driven by price realization and higher shipment volumes, despite currency headwinds. Profitability experienced a mixed trend. The Agriculture and Turf segment saw a significant decline in operating profit for the quarter, impacted by lower volumes, increased production costs, and currency effects. Conversely, the Construction and Forestry segment demonstrated strong growth in both sales and operating profit, benefiting from price realization and the inclusion of Wirtgen's results. The Financial Services segment reported a slight increase in operating profit for the quarter, but a decline for the nine-month period, attributed to a higher average portfolio balanced against unfavorable financing spreads and increased lease residual losses. Overall, the company reported diluted EPS of $2.81 for the quarter and $7.87 for the nine-month period, demonstrating resilience despite industry-specific challenges, particularly in the agricultural sector, which is experiencing farmer caution due to export market uncertainties and commodity price concerns. The company maintains a positive outlook for the full fiscal year, projecting increased net income and sales growth.

    Aug 29, 2019
  23. 2019-Q2

    DEERE & CO Quarterly Report for Q2 Ended Apr 28, 2019

    Deere & Company's (DE) 10-Q filing for the period ending April 28, 2019, reveals a mixed financial performance for the second quarter and the first six months of fiscal year 2019 compared to the prior year. While net sales and revenues saw an increase, driven by growth in both the Agriculture and Turf, and Construction and Forestry segments, net income attributable to Deere & Company experienced a decline in the second quarter, primarily due to higher production costs and unfavorable currency translation effects. However, for the six-month period, net income saw a significant increase, largely influenced by a substantial one-time tax benefit in the prior year. The company's outlook for fiscal year 2019 remains cautiously optimistic, with projected sales increases across segments. However, ongoing uncertainties in the agricultural sector, including trade concerns and commodity prices, are leading to a more cautious financial outlook and planned production adjustments. The company continues to focus on its long-term strategies and product innovation, particularly in advanced technology, to drive future growth.

    May 30, 2019
  24. 2019-Q1

    DEERE & CO Quarterly Report for Q1 Ended Jan 27, 2019

    Deere & Company (DE) reported a strong recovery in its first quarter of fiscal year 2019, as evidenced by a significant increase in net sales and a return to profitability after a loss in the prior year's comparable period. Net sales and revenues grew by 15% to $7.98 billion, driven by robust performance in both the Agriculture & Turf and Construction & Forestry segments. The company posted a net income of $498.5 million, or $1.54 per diluted share, a substantial improvement from a net loss of $535.1 million, or ($1.66) per diluted share, in the first quarter of fiscal year 2018. The improved financial results reflect higher shipment volumes, price realization, and the ongoing integration of Wirtgen's operations. While the company experienced higher production costs and warranty expenses, these were largely offset by pricing strategies and increased sales. Despite some market uncertainties, including trade policies and commodity price volatility, Deere projects continued growth for fiscal year 2019, anticipating a net income of approximately $3.6 billion, showcasing confidence in its strategic positioning and technological advancements.

    Feb 28, 2019
  25. 2018-Q3

    DEERE & CO Quarterly Report for Q3 Ended Jul 29, 2018

    Deere & Company reported a strong third quarter for fiscal year 2018, with net sales and revenues increasing by 32% to $10.3 billion. This growth was significantly driven by the acquisition of Wirtgen Group and robust performance in both the Agriculture and Turf, and Construction and Forestry segments. Net income attributable to Deere & Company surged by 42% to $910.3 million, translating to diluted earnings per share of $2.78, a substantial increase from $1.97 in the prior year's quarter. The company's outlook for the full fiscal year also reflects optimism, with projected net income attributable to Deere & Company forecasted to be around $2.36 billion. Despite facing cost pressures from raw materials and freight, Deere is implementing cost management and pricing strategies to mitigate these impacts. The company's financial services segment also showed improved profitability, benefiting from a larger portfolio and lower credit loss provisions.

    Aug 30, 2018
  26. 2018-Q2

    DEERE & CO Quarterly Report for Q2 Ended Apr 29, 2018

    Deere & Company's Q2 2018 10-Q filing reveals a significant surge in performance, driven by robust sales across both its Agriculture & Turf and Construction & Forestry segments. The acquisition of Wirtgen Group significantly boosted Construction & Forestry revenues, contributing to a substantial overall revenue increase of 29% year-over-year for the quarter. Net income attributable to Deere & Company also saw a strong increase, reaching $1,208.3 million, up from $808.5 million in the prior year's quarter, largely supported by improved sales volumes and favorable foreign currency translation. The company's financial services segment demonstrated resilience, with net income remaining stable year-over-year and benefiting from a higher average portfolio and lower credit loss provisions. Despite increased raw material and freight costs, Deere expressed confidence in its performance, citing a more durable business model and ongoing investments in product innovation. The company also provided an optimistic outlook for the full fiscal year 2018, raising its net income forecast, partially due to provisional tax reform benefits, and anticipating continued strong sales growth across its core segments.

    May 31, 2018
  27. 2018-Q1-A

    DEERE & CO Quarterly Report (Amendment) for Q1 Ended Jan 28, 2018

    Deere & Company's first quarter of fiscal year 2018 filing (ending January 27, 2018) shows a significant shift in net income compared to the prior year, largely driven by the impact of U.S. tax reform legislation. While the company reported a net loss of $535.1 million ($1.66 per share) in the current quarter, this was heavily influenced by charges related to tax reform, including a write-down of deferred tax assets and costs associated with mandatory repatriation of foreign earnings. Excluding these significant tax-related charges, the operational performance appears stronger. Operationally, the company saw substantial growth in net sales and revenues, increasing by 23% to $6.913 billion, driven by strong demand in both agricultural and construction/forestry markets. The acquisition of Wirtgen in December 2017 significantly contributed to the sales growth in the construction and forestry segment. The company forecasts continued industry sales increases for both agricultural and construction equipment in 2018, positioning Deere to capitalize on these market trends. Financial services also reported a significant increase in net income, benefiting from tax reform and a larger average portfolio.

    Mar 2, 2018
  28. 2018-Q1

    DEERE & CO Quarterly Report for Q1 Ended Jan 28, 2018

    Deere & Company's first quarter fiscal year 2018 results, as of January 28, 2018, show a significant net loss of $535.1 million ($1.66 per share) compared to a profit in the prior year, largely driven by a substantial provisional income tax expense related to the U.S. Tax Cuts and Jobs Act of 2017. This tax reform resulted in a $715.6 million write-down of net deferred tax assets and a $261.6 million tax on repatriated earnings. Despite the net loss, the company reported strong top-line growth with worldwide net sales and revenues up 23% to $6.91 billion, driven by a 27% increase in equipment sales. The acquisition of Wirtgen Group significantly boosted the Construction and Forestry segment's sales by 57%. The company's outlook for fiscal year 2018 remains positive, with projected sales growth and net income, though the full-year impact of tax reform is estimated to be unfavorable. Deere & Company maintains a confident outlook, citing a more durable business model and investments in new products and technologies to drive future value.

    Mar 1, 2018
  29. 2017-Q3

    DEERE & CO Quarterly Report for Q3 Ended Jul 30, 2017

    Deere & Company reported strong financial results for the third quarter and the first nine months of fiscal year 2017. Net income attributable to Deere & Company significantly increased year-over-year for both periods, driven by higher net sales and revenues across its equipment and financial services segments. The agriculture and turf segment, as well as the construction and forestry segment, experienced substantial sales growth, particularly benefiting from increased shipment volumes and price realization. Key drivers of this performance include improved market conditions globally, with a notable uptick in South American agricultural machinery sales and robust growth in construction equipment. The company's strategic focus on an advanced product portfolio and a more efficient cost structure contributed to these positive results. Looking ahead, Deere & Company projects continued sales growth for the full fiscal year 2017, underscoring a positive outlook for the business.

    Aug 31, 2017
  30. 2017-Q2

    DEERE & CO Quarterly Report for Q2 Ended Apr 30, 2017

    Deere & Company's second-quarter 2017 report shows a significant increase in net income, driven by improved sales and operating profit across its segments, particularly Agriculture and Turf. Worldwide net sales and revenues grew 5% year-over-year, with Equipment Operations seeing a 2% increase and Financial Services a 10% rise. This performance was bolstered by price realization, a favorable sales mix, and a notable gain from the sale of a partial interest in SiteOne. The company raised its full-year earnings forecast, reflecting market stabilization and strong recovery in South American agricultural machinery sales. Despite some headwinds like increased warranty costs and expenses related to voluntary employee separations, Deere demonstrated operational efficiency and strategic investments in technology and new markets. The company's outlook for the full fiscal year 2017 projects a 9% increase in equipment sales and a net income attributable to Deere & Company of approximately $2,000 million.

    Jun 2, 2017
  31. 2017-Q1

    DEERE & CO Quarterly Report for Q1 Ended Jan 29, 2017

    Deere & Company's first quarter of fiscal year 2017 reported a decrease in net income attributable to the company to $193.8 million, or $0.61 per share, down from $254.4 million, or $0.80 per share, in the prior year period. This decline was primarily driven by lower results in the Financial Services segment due to less favorable financing spreads and voluntary employee separation expenses, as well as higher effective tax rates impacting the equipment operations. Despite the decrease in net income, consolidated net sales and revenues saw a slight increase of 2% to $5,625 million, driven by favorable currency translation and price realization, although net sales for the equipment operations themselves experienced a marginal 1% decline. Despite the year-over-year decline in profitability, the company highlighted operational execution, a broad product portfolio, and a more flexible cost structure as contributing factors to performance. The company reaffirmed its fiscal year 2017 net income forecast of approximately $1,500 million. Key segment performance showed Agriculture and Turf sales were flat, Construction and Forestry sales decreased by 6%, and Financial Services net income declined. The company continues to focus on cost reductions and operational efficiency, anticipating stabilization in key agricultural markets.

    Feb 24, 2017
  32. 2016-Q3

    DEERE & CO Quarterly Report for Q3 Ended Jul 31, 2016

    Deere & Company's (DE) third quarter and nine-month results for fiscal year 2016 indicate a challenging environment, with net sales and revenues declining significantly compared to the prior year. This downturn is attributed to lower shipment volumes in both the Agriculture and Turf, and Construction and Forestry segments, reflecting a global farm recession and difficult construction market conditions. Despite revenue pressures, the company demonstrated operational resilience, with the Agriculture and Turf segment showing improved operating profit year-over-year for the quarter due to price realization and cost efficiencies. The Financial Services segment experienced a decline in net income, impacted by less favorable financing spreads and higher provisions for credit losses and lease residual values. For the full fiscal year 2016, Deere expects overall equipment sales to decrease by approximately 10%, with net income projected to be around $1,350 million. The company continues to focus on cost reductions and operational efficiencies to navigate the prevailing economic headwinds. Management highlights the durable business model and diversified revenue streams as key strengths. Investors should monitor the ongoing impact of commodity prices, global economic conditions, and currency fluctuations on future performance.

    Sep 1, 2016
  33. 2016-Q2

    DEERE & CO Quarterly Report for Q2 Ended Apr 30, 2016

    Deere & Company reported a decline in net sales and revenues for the second quarter and first six months of fiscal year 2016 compared to the prior year, reflecting ongoing challenges in the agricultural and construction equipment markets. Net income attributable to Deere & Company also saw a significant decrease, impacted by lower sales volumes, unfavorable currency translation, and a less favorable product mix. Despite these headwinds, the company's financial services segment demonstrated resilience, though its profitability was also affected by factors such as higher lease residual value losses and an increased provision for credit losses. Management acknowledges the current market downturn but expresses confidence in the company's strong financial position and its ability to capitalize on future growth opportunities. The company is focused on operational efficiencies and cost management to navigate the challenging environment. Deere & Company also highlighted progress in implementing new accounting standards and provided an updated full-year net income forecast. Investors should note the continued emphasis on cost control and the company's outlook for sales in key segments, which remains cautious for the remainder of the fiscal year.

    May 26, 2016
  34. 2016-Q1

    DEERE & CO Quarterly Report for Q1 Ended Jan 31, 2016

    Deere & Company (DE) reported a decrease in net sales and revenues for the first quarter of fiscal year 2016, ending January 31, 2016. Total net sales and revenues were $5.525 billion, a decline of 13% compared to $6.383 billion in the same period of the prior year. This downturn was primarily driven by lower sales volumes across both the Agriculture and Turf segment (-12%) and the Construction and Forestry segment (-23%), impacted by challenging agricultural and construction markets globally, including unfavorable currency translation effects. Despite the revenue decrease, the company managed expenses, leading to net income attributable to Deere & Company of $254.4 million, or $0.80 per diluted share, down from $386.8 million, or $1.12 per diluted share, in the prior year's first quarter. The financial services segment also experienced a decrease in net income, attributed to less favorable financing spreads, higher residual value losses, and an increased provision for credit losses, partially offset by reduced operating expenses. The company anticipates full-year fiscal 2016 net income to be approximately $1,300 million, reflecting ongoing market challenges but also highlighting a perceived durability in its business model with diverse revenue streams. Deere & Company continues to navigate a complex economic environment, with a focus on innovation and technology to drive future value.

    Feb 25, 2016
  35. 2015-Q3

    DEERE & CO Quarterly Report for Q3 Ended Jul 31, 2015

    Deere & Company's (DE) third-quarter and nine-month 2015 results reflect a significant downturn in agricultural and construction machinery markets, impacting net sales and income. Worldwide net sales and revenues declined by 20% for the quarter and 18% for the nine months compared to the prior year, largely driven by lower shipment volumes and unfavorable currency translation effects, particularly in the Agriculture and Turf segment. Despite these challenging market conditions, all segments remained profitable, a testament to the company's responsive cost structure and focus on business plan execution. The Financial Services segment showed resilience, with net income attributable to Deere & Company for the nine months improving due to the crop insurance divestiture and a growing credit portfolio, though offset by less favorable financing spreads. The company is focusing on product innovation and strategic investments to navigate the current economic climate and position itself for future growth.

    Aug 27, 2015
  36. 2015-Q2

    DEERE & CO Quarterly Report for Q2 Ended Apr 30, 2015

    Deere & Company (DE) reported a significant decrease in net sales and revenues for the second quarter and first six months of fiscal year 2015, driven primarily by a decline in the Agriculture and Turf segment. Net sales for the quarter fell 18% year-over-year, with net income attributable to Deere & Company down 30% to $690.5 million, or $2.03 per diluted share. The company's performance was impacted by weaker conditions in the global agricultural sector, compounded by unfavorable currency translation effects. Despite these challenges, the Construction and Forestry segment showed modest growth, and the Financial Services segment saw an increase in operating profit, boosted by a gain from the sale of its crop insurance business. While revenue and profit declined, Deere maintained a strong focus on cost management and developing a more responsive cost and asset structure, which contributed to its continued profitability. The company also repurchased a substantial amount of its own stock during the quarter, indicating confidence in its long-term value. Looking ahead, Deere anticipates continued softness in agricultural markets but expects overall profitability for fiscal year 2015 to be approximately $1.9 billion, demonstrating resilience and a commitment to returning value to shareholders through dividends and share repurchases.

    May 28, 2015
  37. 2015-Q1

    DEERE & CO Quarterly Report for Q1 Ended Jan 31, 2015

    Deere & Company (DE) reported its first quarter fiscal year 2015 results, showing a significant decline in net income attributable to a 17% decrease in worldwide net sales and revenues. This decline was primarily driven by weaker conditions in the global farm sector, leading to a 27% drop in Agriculture and Turf segment sales. However, the Construction and Forestry segment experienced a 13% sales increase, and the Financial Services segment saw a 10% rise in revenues, with net income increasing to $156.8 million from $142.2 million in the prior year's comparable period. Despite the overall revenue decline, the company demonstrated operational improvements in certain areas and managed its liquidity effectively. Total assets decreased slightly, while liabilities also saw a reduction. The company maintained a strong liquidity position with substantial cash and cash equivalents and access to credit facilities. Management anticipates full-year net income to be around $1,800 million, indicating expectations for a rebound in the latter half of the fiscal year, though near-term challenges in the agricultural sector persist.

    Feb 26, 2015
  38. 2014-Q3

    DEERE & CO Quarterly Report for Q3 Ended Jul 31, 2014

    Deere & Company reported a decrease in net sales and net income for the third quarter and the first nine months of fiscal year 2014 compared to the prior year. Net sales for the third quarter declined by 5% to $9.5 billion, with net income attributable to Deere & Company falling to $850.7 million from $996.5 million in the prior year. The decline in sales was primarily driven by lower shipment volumes in the Agriculture and Turf segment, partially offset by growth in Construction and Forestry. Despite overall lower sales, the Financial Services segment showed improved net income due to growth in its credit portfolio. The company's outlook for the full fiscal year 2014 projected a decrease in equipment sales of about 6%, with net income attributable to Deere & Company anticipated to be approximately $3,100 million. Management highlighted moderating conditions in the global farm sector as a key factor impacting demand for farm machinery, while the construction equipment markets showed signs of recovery. Deere & Company continues to focus on navigating global economic uncertainties and meeting stringent emissions regulations.

    Aug 28, 2014
  39. 2014-Q2

    DEERE & CO Quarterly Report for Q2 Ended Apr 30, 2014

    Deere & Company (DE) reported its Q2 fiscal year 2014 results, showing a decrease in net sales and revenues compared to the prior year, primarily driven by a slowdown in the agriculture and turf segment. While the construction and forestry segment saw modest growth, the overall revenue decline impacted profitability, with net income attributable to Deere & Company decreasing by approximately 10% for the quarter. Despite these top-line pressures, the financial services segment demonstrated improved operating profit, supported by a growing credit portfolio. The company also highlighted its commitment to returning capital to shareholders through dividends and share repurchases, while managing its liquidity effectively through diverse funding sources and maintaining strong credit ratings.

    May 29, 2014
  40. 2014-Q1

    DEERE & CO Quarterly Report for Q1 Ended Jan 31, 2014

    Deere & Company reported solid financial results for the first quarter ended January 31, 2014. Net income attributable to the company increased by approximately 4.9% to $681.1 million, or $1.81 per diluted share, compared to $649.7 million, or $1.65 per diluted share, in the prior year's quarter. This growth was driven by a 3% increase in total net sales and revenues, reaching $7,654 million, with the equipment operations seeing a 2% rise and financial services revenues up by 11%. Despite a general forecast for moderating agricultural machinery sales in key markets, Deere's diversified business segments, particularly construction and forestry, showed robust growth. The company demonstrated prudent financial management, with a strong focus on managing costs and maintaining liquidity, as evidenced by positive operating cash flows from investing activities and significant credit facilities.

    Feb 27, 2014
  41. 2013-Q3

    DEERE & CO Quarterly Report for Q3 Ended Jul 31, 2013

    Deere & Company (DE) reported strong financial results for the third quarter and the first nine months of fiscal year 2013, demonstrating robust revenue and net income growth compared to the prior year. The company saw increased net sales and revenues driven by higher shipment volumes and effective price realization, particularly in its Agriculture and Turf segment. The Financial Services segment also contributed positively with improved operating profit, supported by portfolio growth and better crop insurance margins. Despite some headwinds in the Construction and Forestry segment due to lower shipment volumes, overall performance indicates strong demand for Deere's equipment and effective management of operational costs. The company maintained a solid financial position, with positive cash flows from operations and significant liquidity. Deere's outlook for the full fiscal year 2013 remains optimistic, projecting further sales growth and increased net income, underscoring the company's resilience and strategic positioning in key global markets.

    Aug 29, 2013
  42. 2013-Q2

    DEERE & CO Quarterly Report for Q2 Ended Apr 30, 2013

    Deere & Company (DE) reported solid financial results for the second quarter and first six months of fiscal year 2013, demonstrating growth driven by strong performance in its Agriculture and Turf segment, alongside a resilient Financial Services division. Net income attributable to Deere & Company increased year-over-year for both periods, reflecting improved sales and operational efficiencies. Despite some regional market challenges, particularly in European agricultural machinery sales and a slight decrease in construction and forestry equipment sales, the company benefited from favorable conditions in the global farm economy, higher shipment volumes, and effective price realization. The company maintains a strong balance sheet with significant assets and equity. Management anticipates continued sales growth for the full fiscal year 2013, underpinned by positive global agricultural trends and strategic investments in new products. While acknowledging broader economic uncertainties and regulatory compliance as potential risks, Deere & Company appears well-positioned to capitalize on long-term global demand for food, shelter, and infrastructure.

    May 30, 2013
  43. 2013-Q1

    DEERE & CO Quarterly Report for Q1 Ended Jan 31, 2013

    Deere & Company's first quarter fiscal year 2013 report (ending January 31, 2013) indicates a robust performance, with net income attributable to Deere & Company increasing by approximately 22% to $649.7 million, or $1.65 per diluted share, compared to $532.9 million, or $1.30 per diluted share, in the prior year's quarter. This growth was driven by a 10% increase in worldwide net sales and revenues, reaching $7.42 billion, primarily fueled by an 11% rise in equipment net sales. The agriculture and turf segment showed particularly strong growth with a 16% sales increase, while the construction and forestry segment experienced a 7% decline in sales. The company's financial services segment also contributed positively, with net income increasing year-over-year, driven by growth in the credit portfolio and improved crop insurance margins. Despite some macroeconomic uncertainties and concerns regarding global economic recovery and fiscal policies, Deere & Company's outlook for fiscal year 2013 remains positive, with projected equipment sales growth of approximately 6% and a full-year net income forecast of around $3.3 billion.

    Feb 28, 2013
  44. 2012-Q3

    DEERE & CO Quarterly Report for Q3 Ended Jul 31, 2012

    Deere & Company reported strong performance for the third quarter and nine months ended July 31, 2012, with net sales and revenues increasing significantly across its segments, particularly in Agriculture and Turf, and Construction and Forestry. Net income attributable to Deere & Company saw a substantial rise year-over-year, reflecting higher shipment volumes, effective price realization, and improved operational efficiencies. The company also maintained a solid financial position with robust liquidity. Despite some headwinds such as increased production and raw material costs, and unfavorable foreign currency translation effects, Deere & Company's outlook for the full fiscal year 2012 remained positive. The company anticipates continued sales growth and robust field activity in the upcoming crop year, supported by favorable global agricultural trends and a strong U.S. construction market. However, management noted ongoing concerns regarding the global economic recovery, sovereign debt, and credit availability, which warrant continued monitoring.

    Aug 30, 2012
  45. 2012-Q2

    DEERE & CO Quarterly Report for Q2 Ended Apr 30, 2012

    Deere & Company (DE) reported strong financial results for the quarter ending April 30, 2012, with net sales and revenues increasing significantly year-over-year. This growth was driven by robust performance in both the Agriculture and Turf, and Construction and Forestry segments, indicating a healthy demand for the company's equipment. The company's financial services division also contributed positively, showing growth in its credit portfolio. Despite some economic uncertainties globally, Deere & Company demonstrated resilience and a positive outlook, with projected sales increases and solid net income for the fiscal year. Key financial indicators show improved profitability and revenue generation compared to the previous year. The company's strong operational performance, coupled with strategic pricing and volume increases, has successfully offset rising production costs and R&D investments. Investors can take comfort in the company's continued ability to navigate market conditions and deliver shareholder value, supported by favorable agricultural economics and product innovation.

    May 31, 2012
  46. 2012-Q1

    DEERE & CO Quarterly Report for Q1 Ended Jan 31, 2012

    Deere & Company (DE) reported solid financial results for the quarter ended January 31, 2012. Net income attributable to Deere & Company increased to $532.9 million, or $1.30 per diluted share, up from $513.7 million, or $1.20 per diluted share, in the prior year's comparable period. This growth was driven by an 11% increase in worldwide net sales and revenues, reaching $6,766.5 million, primarily fueled by a strong performance in both the Agriculture and Turf, and Construction and Forestry segments. The company's outlook remains positive, with projected sales increases for both the Agriculture and Turf (15%) and Construction and Forestry (18%) segments for fiscal year 2012. Despite some global economic uncertainties, Deere & Company anticipates favorable conditions in major agricultural markets and expects improved construction equipment markets. The company maintained a stable financial position, with total assets growing to $48.6 billion and a solid equity base, demonstrating resilience and a strategic focus on capitalizing on global demand for food, shelter, and infrastructure.

    Mar 1, 2012
  47. 2011-Q3

    DEERE & CO Quarterly Report for Q3 Ended Jul 31, 2011

    Deere & Company (DE) reported strong financial results for the third quarter and the first nine months of fiscal year 2011, showcasing significant year-over-year growth in net sales and net income. The company's performance was driven by robust demand in its core agriculture and turf, as well as construction and forestry equipment segments, bolstered by higher shipment volumes and improved pricing. Despite some economic uncertainties and rising raw material costs, Deere's strategic investments in new products and global capacity appear to be positioning it well to meet increasing global demand for its machinery. The financial services segment also demonstrated improved profitability, attributed to portfolio growth and a lower provision for credit losses, although financing spreads narrowed. The company maintained a positive outlook, forecasting further sales growth for the full year and expecting net income to reach approximately $2,700 million, indicating a confident stance despite potential headwinds from global economic volatility and capital market disruptions. Investors can take comfort from the company's solid operational execution and strategic positioning for future growth.

    Sep 1, 2011
  48. 2011-Q2

    DEERE & CO Quarterly Report for Q2 Ended Apr 30, 2011

    Deere & Company reported robust financial performance for the second quarter and first six months of fiscal year 2011, demonstrating significant year-over-year growth across key metrics. Net sales and revenues surged by 25% in the second quarter and 26% for the first six months, driven by strong demand in both the Agriculture & Turf and Construction & Forestry segments. This revenue growth, coupled with improved price realization and higher shipment volumes, translated into substantial increases in operating profit and net income. Net income attributable to Deere & Company more than doubled in both periods, reflecting operational efficiency and a favorable tax environment compared to the prior year. The company's outlook for the full fiscal year 2011 remains optimistic, with projected sales increases of 21-23% and an anticipated net income of approximately $2,650 million. Despite potential headwinds such as global economic uncertainty, commodity price volatility, and supply chain disruptions (including the impact of the Japanese earthquake), Deere & Company is well-positioned due to consistent investment in new products and expanded global capacity. The company also continues to manage its financial services segment effectively, which contributed positively to overall profitability.

    May 27, 2011
  49. 2011-Q1

    DEERE & CO Quarterly Report for Q1 Ended Jan 31, 2011

    Deere & Company's (DE) first quarter of fiscal year 2011 filing shows a significant rebound in financial performance compared to the prior year. Net income attributable to the company more than doubled, driven by a substantial increase in net sales and revenues across all segments, particularly in Agriculture and Turf, and Construction and Forestry. This growth reflects improving demand for agricultural and construction equipment. The company also saw robust performance in its Financial Services segment, with increased net income attributed to portfolio growth and a lower provision for credit losses. Despite positive sales trends, the company faces ongoing concerns regarding the global economic recovery, credit market conditions, and regulatory changes like the Dodd-Frank Act. However, Deere & Company ended the quarter with a strong financial position, increased stockholders' equity, and solid liquidity, positioning it to capitalize on anticipated positive global economic trends for the remainder of fiscal year 2011, with a projected net income of approximately $2.5 billion.

    Feb 25, 2011
  50. 2010-Q3

    DEERE & CO Quarterly Report for Q3 Ended Jul 31, 2010

    Deere & Company's (DE) third quarter and nine-month results for the period ending July 31, 2010, show a significant rebound in performance compared to the previous year, driven by strong sales growth in its core equipment operations. Net income attributable to Deere & Company surged, with diluted earnings per share increasing substantially. The company's Agriculture and Turf segment experienced robust sales growth, bolstered by favorable market conditions in North America and South America. The Construction and Forestry segment also demonstrated a remarkable turnaround, with sales and operating profit shifting from a loss in the prior year to a profit. Financial Services also contributed positively with improved financing spreads and a lower provision for credit losses. Looking ahead, Deere & Company anticipates continued sales growth for the full fiscal year 2010, driven by strength in agriculture and construction markets, though with regional variations. The company maintains a cautious outlook regarding global economic conditions but expresses confidence in its liquidity and funding sources to meet its obligations.

    Aug 27, 2010