DE 8-K Current Reports

DEERE & CO 8-K Report, Financial Results (Aug 20, 2026)

Deere & Company reported third-quarter fiscal 2026 net income attributable to the company of $1.379 billion, or $5.10 per diluted share, up 7% from $1.289 billion, or $4.75 per share, a year earlier. Total net sales and revenues rose 5% to $12.608 billion. Results were driven by Construction & Forestry (net sales up 18%, operating profit up 84%) and Small Agriculture & Turf (net sales up 12%, operating profit up 28%), which offset a 9% decline in Production & Precision Agriculture operating profit. For the first nine months, net income fell 4% to $3.808 billion, or $14.06 per share, because Production & Precision Agriculture operating profit dropped 34%. Tariff recoveries of $110 million in the quarter and $382 million year to date also helped results. Management raised or reaffirmed its fiscal 2026 net income forecast to a range of $4.75 billion to $5.00 billion, and the release describes the guidance as improved. The forecast calls for Production & Precision Agriculture net sales to fall about 10% with operating margin of 11-12%, down from 15.4% in fiscal 2025. Small Agriculture & Turf net sales are expected to rise about 15%, and Construction & Forestry net sales about 20%. Industry outlooks are weak for large ag in the U.S. and Canada (down 15-20%) and South American tractors and combines (down 15-20%). Management maintains its view that 2026 marks the bottom of the current agricultural equipment cycle. Balance sheet and cash flow data show a larger receivables build and higher total borrowings, with consolidated short-term borrowings rising to $17.1 billion from $13.8 billion at fiscal year-end 2025. Equipment operations generated $4.0 billion of operating cash flow in the first nine months, and the company guided to $5.0-5.5 billion for the full year. Share repurchases totaled $697 million year to date, down from $1.136 billion a year earlier. The next earnings call is scheduled for November 25, 2026.

Aug 20, 2026 8-K

DEERE & CO 8-K Report, Corporate Update (Jul 15, 2026)

Deere & Company (DE), through its indirect wholly owned subsidiary Deere Funding Canada Corporation, has announced the successful issuance of $300 million in aggregate principal amount of 4.850% Notes due July 15, 2031. These notes are fully and unconditionally guaranteed on a senior unsecured basis by Deere & Company, ranking equally with its existing senior unsecured indebtedness. This transaction, facilitated by a terms agreement with several underwriters, aims to enhance the company's liquidity and support its ongoing operational and growth initiatives. The offering was registered under the Securities Act of 1933, indicating compliance with regulatory requirements for public offerings. The issuance of these notes provides Deere & Company with long-term financing at a fixed interest rate, which can be advantageous in managing interest rate risk and planning capital expenditures. The guarantee from the parent company underscores the financial strength and commitment of Deere & Company to its subsidiary's debt obligations. Investors can review the detailed terms, including redemption provisions and legal opinions, in the exhibits filed with this report, offering transparency into the structure and covenants of this debt offering.

Jul 15, 2026 8-K

Leadership Changes

DEERE & CO 8-K Report, Executive Changes (Jun 1, 2026)

This 8-K filing from Deere & Company (DE) announces a significant board-level change. Dmitri Stockton, a director who has served for nearly 12 years, has informed the Board of his decision not to stand for re-election at the 2027 annual meeting of stockholders. Investors should note that this decision is amicable and not due to any disagreements with the company's operations, policies, or practices. While Mr. Stockton will continue to serve his current term through the 2027 annual meeting, this announcement signals the upcoming departure of a long-standing board member. The Board expressed its gratitude for his extensive service. Investors may want to monitor the company's succession planning for its board and assess the impact of this transition on future board composition and strategic oversight.

Jun 1, 2026 8-K

DEERE & CO 8-K Report, Financial Results (May 21, 2026)

Deere & Company reported second-quarter fiscal 2026 net income of $1.773 billion, or $6.55 per diluted share, down 2% from $1.804 billion ($6.64) a year earlier. Worldwide net sales and revenues rose 5% to $13.369 billion, and year-to-date revenues rose 8% to $22.981 billion. Year-to-date net income fell 9% to $2.429 billion ($8.97 per share), but the prior-year period included special items, so the comparison is distorted. Quarterly results were driven by a sharp divergence across segments: Production & Precision Agriculture net sales fell 14% and operating profit fell 39% to $706 million (operating margin 15.7%, down from 22.0%), reflecting weak large-ag demand, while Small Agriculture & Turf (sales +16%, operating profit +25%) and Construction & Forestry (sales +29%, operating profit +48%) grew strongly. Financial Services net income rose 18% to $190 million. Management maintained its fiscal 2026 net income guidance of $4.5 billion to $5.0 billion, which the company framed as confidence amid market volatility. The outlook calls for Production & Precision Ag net sales to fall 5% to 10% with operating margin of 11% to 13%, versus 15.4% in fiscal 2025, reflecting a U.S./Canada large-ag market expected to decline 15% to 20%. Small Ag & Turf sales are guided up about 15% and Construction & Forestry up about 20%. Financial Services net income is forecast at about $860 million. The filing also notes a $272 million recovery of IEEPA tariff refunds, which was included in the prior-period results discussion, and the February 2026 acquisition of Tenna LLC for $439 million. For investors, the key takeaway is that Deere's earnings are being carried by its smaller, more diversified segments while its core large-ag franchise remains under pressure. The maintained guidance implies a second half that is stable relative to the first half, but the margin compression in Production & Precision Ag and the expected decline in large-ag demand are the main risks to monitor.

May 21, 2026 8-K

Leadership ChangesExhibits & Filings

DEERE & CO 8-K Report, Executive Changes (May 1, 2026)

Deere & Company (NYSE: DE) has elected T. Brent Norwood, 44, as Senior Vice President and Chief Financial Officer, effective May 1, 2026, according to this 8-K filed May 1, 2026. The board made the appointment on April 28, 2026. Norwood succeeds Ryan D. Campbell, who had been serving as acting CFO and will remain with the company as President, Worldwide Construction & Forestry and Power Systems. The filing describes the change as a leadership transition rather than a shift in financial results or guidance, so it carries no direct earnings impact. Norwood brings more than 20 years of experience at Deere and in finance. Since October 2023 he has been Vice President & Finance Director for Construction & Forestry and Power Systems, overseeing financial planning, forecasting, capital budgeting, and strategic investments. Earlier he led Investor Relations (2022–2023), and his prior roles include equity research at Credit Suisse, portfolio analysis at Highland Capital Management, and work at THL Credit. The company also notes he played a role in the Wirtgen and Blue River Technology acquisitions and was recognized by Institutional Investor as a top investor relations professional. Compensation is disclosed at a $925,000 annual base salary, a 100% target short-term incentive, and a one-time award of 8,809 performance-based restricted stock units vesting through October 27, 2030. For investors, the main takeaways are continuity, since Norwood is an internal candidate with deep knowledge of Deere's businesses and investor relations, and the retention of Campbell in an operating leadership role. The 8-K does not explain the reasons for the transition, so investors may want to watch upcoming earnings calls for commentary on the handover and any changes in capital allocation priorities.

May 1, 2026 8-K

DEERE & CO 8-K Report, Executive Changes (Mar 16, 2026)

Deere & Company (DE) announced on March 16, 2026, that its Board of Directors, upon the recommendation of the Compensation Committee, has approved one-time grants of performance-based restricted stock units (PSUs) to its named executive officers and other senior officers. These awards, to be granted under the John Deere 2020 Equity and Incentive Plan, are designed to incentivize long-term business results aligned with the company's refined Leap Ambitions and to promote executive retention. The PSUs are contingent on achieving specific Shareholder Value Added (SVA) targets over a five-fiscal year performance period, running from November 3, 2025, to October 27, 2030. The performance metrics are structured to account for the cyclical nature of Deere's business, with annual SVA targets set as a percentage of estimated mid-cycle net sales. The payout structure is performance-dependent, ranging from zero to 175% of the target number of PSUs based on achieving between 90% and 125% (or more) of the applicable annual SVA target. The final award will be based on an average performance percentage over the five-year period. SVA itself is defined as operating profit less the product of average assets and cost of capital for the company's equipment operations segments, aiming to measure earnings above the cost of capital.

Mar 16, 2026 8-K

DEERE & CO 8-K Report, Shareholder Vote Results (Feb 27, 2026)

Deere & Company (DE) filed an 8-K on February 27, 2026, detailing the results of its annual shareholder meeting held on February 25, 2026. The primary purpose of this filing is to inform investors about the outcomes of various voting matters presented to shareholders. All director nominees were overwhelmingly elected, indicating strong shareholder confidence in the current board. Additionally, shareholders provided advisory approval for the executive compensation plan and ratified Deloitte & Touche LLP as the company's independent auditor for fiscal year 2026. The filing also reported the outcomes of several shareholder proposals. Notably, proposals concerning a report on the ROI of emission reduction goals, the right for shareholders to act by written consent, and a report on faith-based business resource groups all failed to gain majority shareholder approval. These results suggest that while shareholders support the company's leadership and financial oversight, they did not endorse these specific strategic or governance-related initiatives at this time.

Feb 27, 2026 8-K

DEERE & CO 8-K Report, Financial Results (Feb 19, 2026)

Deere & Company (DE) reported first quarter fiscal 2026 net income of $656 million, or $2.42 per diluted share, down 25% from $869 million, or $3.19 per share, a year earlier. Worldwide net sales and revenues rose 13% to $9,611 million, and net sales (equipment operations) rose 18% to $8,001 million. The top-line growth was driven by Small Ag & Turf (sales up 24%) and Construction & Forestry (sales up 34%), with the Production & Precision Ag segment up only 3%. Profitability, however, weakened sharply in the large agriculture business: Production & Precision Ag operating profit fell 59% to $139 million (4.4% margin vs. 11.0%), reflecting higher tariffs, unfavorable mix, and higher warranty expense. Income taxes rose to $196 million from $27 million, which weighed on net income even as pretax income fell less sharply. Management characterized fiscal 2026 as the likely bottom of the current cycle and pointed to recovering demand in construction and small agriculture. The company raised its fiscal 2026 net income guidance to $4.5 billion to $5.0 billion. Outlook calls for Production & Precision Ag net sales to fall 5% to 10%, with U.S. & Canada large ag industry down 15% to 20%, while Small Ag & Turf and Construction & Forestry net sales are each expected to rise about 15%. Financial Services net income is forecast at roughly $840 million, down from $890 million in fiscal 2025. Cash flow was negative in the quarter, with equipment operations operating cash flow of $(1,343) million, though this is seasonal. Inventories rose to $8,286 million from $7,744 million a year earlier, and the company continued shareholder returns with $302 million in share repurchases and $441 million in dividends paid. Investors should weigh the strong top-line recovery in smaller segments against the sharp margin compression in large agriculture and the ongoing tariff and warranty pressures.

Feb 19, 2026 8-K

Leadership Changes

DEERE & CO 8-K Report, Executive Changes (Jan 22, 2026)

Deere & Company (DE) announced a significant leadership change in its finance department via an 8-K filing on January 22, 2026. Joshua A. Jepsen has resigned from his position as Senior Vice President and Chief Financial Officer, with his departure effective February 19, 2026. The company has stated that Mr. Jepsen's decision is not linked to any financial or accounting improprieties or disputes regarding the company's operations or policies, providing some reassurance to investors regarding the underlying financial health. In response to this transition, Deere & Company has appointed Ryan D. Campbell as the interim Chief Financial Officer, effective also on February 19, 2026. Mr. Campbell brings considerable experience to this role, having previously served as the company's CFO from March 2019 to May 2022, and most recently as President of Worldwide Construction & Forestry and Power Systems since May 2022. The company has indicated that a search for a permanent CFO replacement is underway, encompassing both internal and external candidates.

Jan 22, 2026 8-K

DEERE & CO 8-K Report, Executive Changes (Dec 4, 2025)

Deere & Company (NYSE: DE) filed an 8-K on December 4, 2025 reporting two governance changes and a related press release. The Board expanded from 10 to 11 directors and elected Brian Sikes, Chair, President and CEO of Cargill, effective December 4, 2025. Mr. Sikes was also appointed to the Compensation and Corporate Governance committees. The Company states there are no related-party transactions requiring disclosure under Item 404(a) of Regulation S-K, and no arrangements tied to his selection. Separately, Raj Kalathur, President of John Deere Financial and Chief Information Officer, notified the Board on December 3, 2025 of his intention to retire effective January 31, 2026. The filing does not name a successor or describe a transition plan, so investors should watch for a follow-up announcement, particularly given that John Deere Financial and IT are both strategically important to Deere's technology-enabled product and financing strategy. For investors, the filing is low-impact on near-term financials. The board addition brings in an agricultural-industry executive with deep supply chain experience, which may be viewed favorably, while the retirement of a senior executive over a roughly eight-week notice period is a leadership transition worth monitoring. The Item 7.01 press release is furnished, not filed, and contains no financial guidance or results.

Dec 4, 2025 8-K

DEERE & CO 8-K Report, Financial Results (Nov 26, 2025)

Deere & Company reported fourth-quarter fiscal 2025 net income attributable to the company of $1.065 billion, or $3.93 per diluted share, down 14% from $1.245 billion ($4.55) a year earlier, even though worldwide net sales and revenues rose 11% to $12.394 billion. For the full year, net income fell 29% to $5.027 billion ($18.50 per share) on revenues down 12% to $45.684 billion. The headline quarterly revenue growth was driven by Construction & Forestry (+27%) and Production & Precision Ag (+10%) shipment volumes, while profitability was squeezed by tariffs, higher production costs, warranty expense, and special items. Small Ag & Turf operating margin collapsed to 1.0% from 10.1%, and Production & Precision Ag margin fell to 12.7% from 15.3%. Management guided fiscal 2026 net income to $4.00–4.75 billion and characterized 2026 as the likely bottom of the large ag cycle. The outlook calls for large ag in the U.S. and Canada to fall 15–20%, while small ag & turf and construction & forestry are expected to grow, with Production & Precision Ag net sales down 5–10% and Small Ag & Turf and Construction & Forestry each up about 10%. Financial Services net income is forecast at roughly $830 million versus $890 million in fiscal 2025. Investors should weigh the improved segment mix and stabilization narrative against continued tariff pressure, a $95 million pretax litigation accrual in the quarter, and the company's ongoing FTC right-to-repair lawsuit.

Nov 26, 2025 8-K

DEERE & CO 8-K Report, Corporate Update (Oct 9, 2025)

Deere & Company (DE) has announced through a subsidiary, Deere Funding Canada Corporation, the successful issuance of $500 million in 4.150% senior unsecured notes due October 9, 2030. These notes are fully and unconditionally guaranteed by Deere & Company. The offering was conducted through a Terms Agreement with several leading underwriters, including Goldman Sachs & Co. LLC and MUFG Securities Americas Inc. The issuance of these notes is a standard financing activity to support the company's ongoing operations and strategic initiatives. From an investor's perspective, this debt issuance signals continued access to capital markets for Deere. The senior unsecured nature of the notes means they rank equally with other unsecured debt of the parent company, which is a common structure for corporate debt. The 4.150% coupon rate reflects prevailing market conditions and the creditworthiness of Deere & Company. Investors should note that while the notes are guaranteed by the parent, they are an unsecured obligation, meaning repayment relies on the overall financial health of Deere & Company. The filing also details redemption provisions and incorporates by reference relevant prospectus supplements and legal opinions.

Oct 9, 2025 8-K

DEERE & CO 8-K Report, Executive Changes (Sep 2, 2025)

Deere & Company disclosed a set of senior leadership changes in an 8-K filed September 2, 2025, tied to the company's Smart Industrial Strategy. The Board elected Cory Reed as President, Lifecycle Solutions, Supply Management, and Customer Success, effective November 3, 2025. On the same date, Reed will step down from his current role as President of the Worldwide Ag & Turf Division's Production & Precision Ag business and its Americas and Australia sales and marketing regions. The press release also names two other executives to new roles effective November 3. Deanna Kovar, previously president of Small Ag & Turf, becomes president of Production & Precision Ag, covering the Americas and Australia. Justin Rose, previously president of Lifecycle Solutions, becomes president of Small Agriculture & Turf, covering Europe, Africa, and Asia. Together, these moves reshape responsibility for the company's production-scale and small-equipment businesses and its aftermarket, customer support, and supply chain functions. The filing contains no financial results, guidance, or quantitative metrics. For investors, the significance lies in organizational execution and management continuity rather than near-term financial impact. The filing does not explain the rationale for the changes beyond general references to customer value and the strategy.

Sep 2, 2025 8-K

DEERE & CO 8-K Report, Financial Results (Aug 14, 2025)

Deere & Company reported third quarter fiscal 2025 net income attributable to the company of $1.289 billion, or $4.75 per diluted share, down 26% from $1.734 billion, or $6.29 per share, a year earlier. Worldwide net sales and revenues fell 9% to $12.018 billion, and year-to-date net income fell 32% to $3.962 billion. The decline was driven mainly by Production & Precision Agriculture, where operating profit fell 50% on lower shipment volumes and unfavorable price realization, and Construction & Forestry, where operating profit fell 47% on price realization and tariff-driven production costs. Management described customers as cautious amid ongoing uncertainty and said inventory had been matched to retail demand. Full-year fiscal 2025 net income guidance was narrowed to a range of $4.75 billion to $5.25 billion. Management's industry outlook calls for U.S. and Canada large ag down roughly 30%, small ag and turf down roughly 10%, and construction equipment down roughly 10%. Segment net sales guidance is down 15% to 20% for Production & Precision Ag, down roughly 10% for Small Ag & Turf, and down 10% to 15% for Construction & Forestry. Financial Services net income is forecast at about $770 million, up from $696 million in fiscal 2024. For investors, the key takeaways are continued earnings pressure from weak large-ag demand, tariff costs, and price realization, partly offset by a stronger Financial Services segment and lower provisions for credit losses. The filing also flags risk factors including tariffs, the FTC lawsuit over right-to-repair, and cybersecurity. The company's fiscal 2025 operating cash flow guidance is $4.5 billion to $5.5 billion for equipment operations, and it expects a 19-21% effective tax rate.

Aug 14, 2025 8-K

DEERE & CO 8-K Report, Corporate Update (Jul 7, 2025)

This 8-K filing from Deere & Company (DE) primarily announces the passing of director Sherry M. Smith, who had been a board member since 2011. The company has responded by reducing its Board size to ten members and appointing R. Preston Feight as Lead Director, effective July 7, 2025. This change, while somber, represents a structural adjustment to the Board's composition. For investors, this filing does not contain any immediate financial performance updates or strategic shifts. The core information relates to corporate governance and board leadership. The appointment of a Lead Director suggests a focus on maintaining strong oversight and guidance for the company's executive team following this loss. Investors should monitor future filings for any subsequent changes to board composition or committee assignments.

Jul 7, 2025 8-K

DEERE & CO 8-K Report, Financial Results (May 15, 2025)

Deere & Company's second quarter fiscal 2025 (ended April 27, 2025) was markedly weaker year over year. Net income attributable to Deere fell 24% to $1.804 billion ($6.64 per diluted share) from $2.370 billion ($8.53), and worldwide net sales and revenues declined 16% to $12.763 billion. For the first six months, net income fell 35% to $2.673 billion and revenues fell 22% to $21.272 billion. Equipment net sales dropped 18% for the quarter, with Production & Precision Ag down 21%, Small Ag & Turf down 6%, and Construction & Forestry down 23%. Operating profit was down 26% in the quarter, driven mainly by lower shipment volumes and sales mix, unfavorable currency effects, and, per the release, incremental tariff costs that were partly offset by lower production costs and price realization. Financial Services net income was essentially flat at $161 million. Management widened its full-year fiscal 2025 net income guidance to a range of $4.75 billion to $5.50 billion, which reflects tariffs in effect as of May 13, 2025, and excludes potential future tariffs. Segment guidance calls for net sales declines of 15% to 20% in Production & Precision Ag, 10% to 15% in Small Ag & Turf, and 10% to 15% in Construction & Forestry. The industry outlook is weak, with U.S. and Canada large ag down roughly 30% and small ag and turf down 10% to 15%. Management also reiterated a commitment to an "A" credit rating and noted continued investment in its core U.S. market over the next decade. For investors, the key issues are the sharp earnings contraction, the tariff exposure (which management says is only partly reflected in the outlook), and whether the full-year range holds if trade conditions worsen. Balance sheet and cash flow remain sound, with six-month operating cash flow of $568 million and cash of $7.991 billion, though operating cash flow was well below the prior year. Management also reported a $0.9 billion-plus reduction in share repurchases year over year ($838 million versus $2.422 billion for the six-month period).

May 15, 2025 8-K

DEERE & CO 8-K Report, Shareholder Vote Results (Feb 28, 2025)

Deere & Company (DE) filed an 8-K on February 28, 2025, detailing the results of its annual shareholder meeting held on February 26, 2025. The primary focus of this filing is the voting outcomes on various proposals. Notably, all director nominees were overwhelmingly elected, and shareholders approved, on an advisory basis, the executive compensation. Additionally, Deloitte & Touche LLP was ratified as the company's independent auditor for fiscal year 2025. However, several shareholder proposals did not receive majority support, including those concerning racial and gender hiring statistics, financial sustainability reports, and charitable giving. One proposal for a meritocratic workplace report was withdrawn by the proponent. The strong endorsement of the board and executive compensation suggests shareholder confidence in current leadership and strategy, while the rejection of several governance and social-related proposals indicates a preference for the company's existing approach in these areas or a lack of support for the specific requests made.

Feb 28, 2025 8-K

DEERE & CO 8-K Report, Financial Results (Feb 13, 2025)

Deere & Company reported first-quarter fiscal 2025 net income attributable to the company of $869 million, or $3.19 per diluted share, down 50% from $1,751 million, or $6.23 per share, a year earlier. Worldwide net sales and revenues fell 30% to $8.508 billion. Net sales of the equipment segments dropped 30% to $6.809 billion, driven by lower shipment volumes in all three equipment segments as the company works to reduce field inventories of new and used equipment amid weak customer demand. Operating margins compressed sharply: Production & Precision Agriculture fell to 11.0% from 21.6%, Small Agriculture & Turf to 7.1% from 13.4%, and Construction & Forestry to 3.3% from 17.6%. Financial Services net income rose 11% to $230 million, though this was helped by a $32 million reversal of a valuation allowance tied to the Banco John Deere sale. Results also included $163 million of favorable discrete tax items. Management held its fiscal 2025 net income guidance at $5.0 to $5.5 billion, a figure that does not reflect potential U.S. import tariffs or retaliatory measures by other countries. Segment guidance calls for production and precision agriculture net sales to fall 15 to 20 percent, small agriculture and turf to fall about 10 percent, and construction and forestry to fall 10 to 15 percent. Financial Services net income is forecast at about $750 million, up from $696 million in fiscal 2024. Equipment operations net operating cash flow is forecast at $4.5 to $5.5 billion. Investors should note that equipment operations used $2.9 billion of operating cash in the quarter, that share repurchases slowed to $441 million from $1.328 billion, and that the company declared a dividend of $1.62 per share, up from $1.47. The filing also highlights several risks: an FTC and five-state lawsuit alleging the company unlawfully restricted farmers' right to repair, trade and tariff uncertainty, and continued weak U.S. large agriculture and construction demand. On the positive side, January 2025 retail sales data show Deere outpacing the industry in several U.S. and Canada equipment categories, and dealer inventory of 100+ hp two-wheel-drive tractors rose to 34% of trailing sales from 30%, a level management is working to manage.

Feb 13, 2025 8-K

DEERE & CO 8-K Report, Corporate Update (Jan 16, 2025)

Deere & Company (DE) announced a significant debt offering, successfully raising $2 billion by issuing two series of unsecured senior notes. The company sold $1.25 billion of 5.450% Notes due in 2035 and $750 million of 5.700% Notes due in 2055. This move is primarily aimed at strengthening its capital structure and providing flexibility for future operations and investments. The offering was conducted through a terms agreement with a syndicate of prominent underwriters, indicating strong market appetite for Deere's debt.

Jan 16, 2025 8-K

DEERE & CO 8-K Report, Corporate Update (Dec 3, 2024)

Deere & Company (DE) has filed an 8-K report on December 3, 2024, primarily announcing the declaration of its quarterly dividend on common stock. This action is routine for publicly traded companies and signals continued confidence in the company's financial health and ability to return value to shareholders. While this filing does not contain substantial new financial performance data or strategic shifts, the declaration of a dividend is a positive indicator for investors. It suggests that the board of directors believes the company has sufficient cash flow and future earnings prospects to support ongoing dividend payments. Investors should refer to the attached press release (Exhibit 99.1) for specific details regarding the dividend amount and payment dates.

Dec 3, 2024 8-K

DEERE & CO 8-K Report, Financial Results (Nov 21, 2024)

Deere & Company reported fourth-quarter fiscal 2024 net income attributable to the company of $1.245 billion, or $4.55 per diluted share, down 47% from $2.369 billion ($8.26) a year earlier. Worldwide net sales and revenues fell 28% to $11.143 billion. For the full fiscal year, net income was $7.100 billion ($25.62 per share), down 30%, and net sales and revenues declined 16% to $51.716 billion. Equipment net sales fell 38% in Production & Precision Ag and 25% in Small Ag & Turf and 29% in Construction & Forestry in the quarter, driven mainly by lower shipment volumes. Operating profit for the quarter dropped sharply across the equipment segments, while Financial Services net income was roughly flat at $173 million. Management guided fiscal 2025 net income attributable to Deere to $5.0 to $5.5 billion, implying further meaningful declines from fiscal 2024. The outlook calls for Production & Precision Ag net sales down about 15% and Small Ag & Turf and Construction & Forestry sales down about 10% and 10% to 15%, respectively. Industry forecasts point to weaker demand in U.S. and Canadian large ag (down about 30%) and small ag and turf (down about 10%), with Europe down 5 to 10%. Financial Services net income is projected at about $750 million, and equipment operations net operating cash flow is expected at $4.5 to $5.5 billion. The quarter included several special items: a $57 million pretax gain from patent legal settlements, a $28 million impairment charge on an investment, $157 million of pretax employee-separation program expenses (with about $220 million in annual savings targeted), and a $59 million fiscal-year loss tied to the planned 50% sale of Banco John Deere S.A. to Bradesco, with the valuation allowance increasing to $97 million. Management reiterated its commitment to an "A" credit rating, continued investment in products and precision technology, and its capital priorities of dividends and share repurchases, which were reduced to $4.0 billion in fiscal 2024 from $7.2 billion in fiscal 2023.

Nov 21, 2024 8-K

DEERE & CO 8-K Report, Executive Changes (Nov 1, 2024)

Deere & Company (NYSE: DE) filed an 8-K on November 1, 2024 to report a board change. The Board increased its size from 11 to 12 directors and appointed R. Preston Feight, the current chief executive officer of PACCAR Inc, effective immediately. The filing states there are no arrangements or understandings under which Feight was selected, and the company is not aware of any related party transactions requiring disclosure under Item 404(a) of Regulation S-K. The filing is an event disclosure rather than a financial report, and it contains no earnings, guidance, or financial results. For investors, the main takeaway is governance rather than near-term financial impact. Deere describes the appointment as aligned with its "Smart Industrial Operating Model" and its ongoing transformation. Chairman and CEO John C. May cites Feight's technology background in powertrains, driver assistance, and connectivity, and notes PACCAR's history of collaboration with Deere. Feight's experience in engineering, manufacturing, aftermarket, and financial services is relevant to Deere's equipment and John Deere Financial businesses. The press release notes that 11 of the 12 directors are now independent, non-employee directors. The 8-K does not disclose committee assignments, compensation, or any strategic initiative tied to the appointment, so investors should consult the company's subsequent proxy statement and filings for those details.

Nov 1, 2024 8-K

Regulation FDOther Events

DEERE & CO 8-K Report, Financial Results (Aug 15, 2024)

Deere & Company reported third-quarter fiscal 2024 net income of $1.734 billion, or $6.29 per diluted share, down 42% from $2.978 billion, or $10.20 per share, a year earlier. Total net sales and revenues fell 17% to $13.152 billion, and equipment net sales fell roughly 20% to $11.387 billion. Weakness was broad across segments: production and precision agriculture net sales fell 25%, small agriculture and turf fell 18%, and construction and forestry fell 13%, all driven mainly by lower shipment volumes. Operating margins compressed sharply, with production and precision agriculture at 22.8% (versus 26.2%), small agriculture and turf at 16.2% (versus 19.6%), and construction and forestry at 13.8% (versus 19.1%). Management expects fiscal 2024 net income of approximately $7.0 billion, which the company describes as unchanged. It also lowered its segment sales outlook, now calling for declines of 20 to 25% in production and precision agriculture and small agriculture and turf, and 10 to 15% in construction and forestry. Industry forecasts point to weak demand, including large ag down about 15% in the U.S. and Canada, South American tractor and combine sales down 15 to 20%, and construction equipment down 5 to 10%. Management is responding with employee-separation programs that carry an estimated $150 million pretax cost and roughly $230 million of annual pretax savings, and with a plan to sell 50% of Banco John Deere in Brazil to Banco Bradesco. For investors, the central question is whether the cost actions and the reaffirmed full-year earnings target can offset a multi-year agricultural downcycle. Financial services earnings are forecast at about $720 million for fiscal 2024, higher than 2023, and the Brazil transaction should reduce incremental credit risk. The filing also flags heavier interest expense, which rose to $840 million in the quarter from $623 million, along with the cyclical and macroeconomic risks described in the forward-looking statements.

Aug 15, 2024 8-K

DEERE & CO 8-K Report, Regulation FD Disclosure (Jun 5, 2024)

Deere & Company (DE) filed an 8-K on June 5, 2024, to disclose a planned workforce reduction. This action, announced to employees on May 31, 2024, involves reducing both production and salaried employees to align with strategic priorities and reduce operational overlap. The company explicitly stated that this workforce reduction is not expected to impact its previously issued earnings guidance, which remains unchanged from the May 16, 2024 earnings call. The workforce reduction activities for salaried employees are anticipated to occur during the third quarter of fiscal year 2024. While the company anticipates this will help meet strategic priorities and improve efficiency, it also included a standard forward-looking statements disclaimer, highlighting that actual results could differ materially due to various risks, including macroeconomic conditions and potential unintended consequences of the realignment.

Jun 5, 2024 8-K

DEERE & CO 8-K Report, Financial Results (May 16, 2024)

Deere & Company reported second-quarter fiscal 2024 net income attributable to the company of $2.370 billion, or $8.53 per diluted share, down 17% from $2.860 billion, or $9.65 per share, a year earlier. Net sales and revenues fell 12% to $15.235 billion. For the first six months, net income was $4.121 billion ($14.74 per share), down 14%, on revenues of $27.420 billion, down 9%. Management attributed the decline to softer global agricultural and turf demand, partly offset by price realization and stability in construction end markets. Operating profit fell across the equipment segments: Production & Precision Agriculture dropped 24% to $1.650 billion (25.1% margin), Small Agriculture & Turf fell 33% to $571 million (17.9% margin), and Construction & Forestry fell 20% to $668 million (17.4% margin). Financial Services was the bright spot, with quarterly net income of $162 million versus $28 million, though the prior-year comparison was depressed by a $135 million after-tax accounting correction. For fiscal 2024, Deere updated its full-year net income forecast to approximately $7.0 billion. It expects equipment segment net sales to decline 20% to 25% in Production & Precision Agriculture and Small Agriculture & Turf, and 5% to 10% in Construction & Forestry. Financial Services net income is forecast at about $770 million, up from $619 million in fiscal 2023. Management also guided to a 23% to 25% effective tax rate, net operating cash flow of $7.0 to $7.25 billion, and capital expenditures of about $1.9 billion. Industry outlooks point to sharp declines in large ag (about 15% in U.S. and Canada and Europe, and 15% to 20% in South America) and small ag and turf (about 10% in U.S. and Canada), while construction equipment is flat to down 5%. Balance sheet indicators show cash of $5.553 billion, down from $7.458 billion at fiscal year-end 2023, and $2.422 billion of share repurchases year to date. Investors should weigh the cyclical ag downturn and margin compression against the company's management of production and inventory levels and its continued investment in technology.

May 16, 2024 8-K

DEERE & CO 8-K Report, Shareholder Vote Results (Mar 1, 2024)

This 8-K filing from Deere & Company details the results of its Annual Meeting of Shareholders held on February 28, 2024. All director nominees were overwhelmingly elected, reflecting strong shareholder confidence in the current board. Additionally, shareholders approved, on an advisory basis, the executive compensation package, indicating general satisfaction with the company's remuneration practices for its top executives. The company's choice of Deloitte & Touche LLP as its independent registered public accounting firm for fiscal year 2024 was also ratified by a substantial majority.

Mar 1, 2024 8-K

DEERE & CO 8-K Report, Financial Results (Feb 15, 2024)

Deere & Company reported first-quarter fiscal 2024 net income attributable to the company of $1.751 billion, or $6.23 per diluted share, down 11% from $1.959 billion, or $6.55 per share, a year earlier. Consolidated net sales and revenues fell 4% to $12.185 billion, with equipment net sales of $10.486 billion versus $11.402 billion. The decline was driven primarily by lower shipment volumes across Production & Precision Agriculture (net sales down 7%, operating margin 21.6%) and Small Agriculture & Turf (net sales down 19%, operating margin 13.4%), partially offset by price realization. Construction & Forestry sales were flat, though operating profit fell 9% on higher production costs. Financial Services net income rose 12% to $207 million on a larger average portfolio, partially offset by less favorable financing spreads. Management guided fiscal 2024 net income attributable to Deere to $7.50 to $7.75 billion and expects fleet replenishment to moderate as agricultural fundamentals normalize from record 2022 and 2023 levels. Segment guidance calls for net sales declines of roughly 20% in Production & Precision Ag, 10 to 15% in Small Ag & Turf, and 5 to 10% in Construction & Forestry, with price realization of about 1.5% in each equipment segment. Financial Services net income is forecast at approximately $770 million, up from $619 million in fiscal 2023 after a $135 million after-tax correction to financing incentive accounting recorded in Q2 2023. For investors, the key takeaways are that equipment volumes are normalizing from peak levels while margins remain structurally strong, and that the company is guiding to a meaningful earnings decline versus fiscal 2023 as the cycle turns. Cash flow was weak in the quarter, with operating cash use of $908 million, driven by working capital changes, and interest expense rose sharply to $802 million from $479 million. Cash and equivalents declined to $5.1 billion from $7.5 billion at fiscal year-end.

Feb 15, 2024 8-K

DEERE & CO 8-K Report, Corporate Update (Dec 6, 2023)

Deere & Company (DE) has filed an 8-K report on December 6, 2023, primarily announcing the declaration of its quarterly dividend on common stock. This filing serves as an update to investors regarding the company's commitment to returning value through dividends. While the specific dividend amount is detailed in the attached press release (Exhibit 99.1), the core purpose of this 8-K is to formally notify the market of this dividend declaration, a common practice for publicly traded companies.

Dec 6, 2023 8-K

Leadership ChangesExhibits & Filings

DEERE & CO 8-K Report, Financial Results (Nov 22, 2023)

Deere & Company reported strong fiscal fourth-quarter and full-year 2023 results on November 22, 2023. Fourth-quarter net income attributable to Deere rose 5% to $2.369 billion ($8.26 per diluted share), while worldwide net sales and revenues fell 1% to $15.412 billion. For the full year, net income climbed 43% to $10.166 billion ($34.63 per share) and net sales and revenues rose 16% to $61.251 billion, driven by price realization and higher shipment volumes in production and precision agriculture and construction and forestry. Operating profit for the Production & Precision Ag segment jumped 60% for the year, and the company's full-year results benefited from price realization across segments. The key forward-looking item is guidance for fiscal 2024, with net income attributable to Deere forecast at $7.75 to $8.25 billion, which implies a decline from 2023's record level. Management expects agricultural end markets to contract, with U.S. and Canada large ag down 10 to 15 percent and Production & Precision Ag net sales down 15 to 20 percent, as volumes normalize toward mid-cycle levels. Construction & Forestry net sales are forecast down about 10 percent, while Financial Services net income is expected to rise to roughly $770 million. Investors should also note that the fourth quarter included a $173 million pretax financing-incentive correction recorded in the second quarter, a $243 million Brazilian tax benefit in the third quarter, and a loss on the sale of the Russian roadbuilding business. Interest expense more than doubled for the full year, to $2.453 billion from $1.062 billion, and the company repurchased $7.2 billion of common stock during fiscal 2023, underscoring its capital return priorities alongside the outlook for softer end markets.

Nov 22, 2023 8-K

DEERE & CO 8-K Report, Executive Changes (Oct 30, 2023)

Deere & Company (DE) filed an 8-K on October 30, 2023, primarily to report amendments to its John Deere Short-Term Incentive Bonus Plan (STI Plan). The key change is a doubling of the maximum annual payout for participants from $5.0 million to $10.0 million. This adjustment, the first since 2005, aims to bring the plan's compensation limits in line with current market conditions and the company's performance potential. Additionally, the amendments removed provisions related to Section 162(m) of the Internal Revenue Code, which are no longer applicable. These changes are effective for the fiscal year 2023 onwards. While this 8-K does not contain new financial results, it signals an update to the executive compensation structure, reflecting a commitment to incentivize leadership through potentially higher short-term bonuses.

Oct 30, 2023 8-K

Leadership Changes

DEERE & CO 8-K Report, Executive Changes (Oct 3, 2023)

This 8-K filing from Deere & Company (DE) announces the upcoming retirement of Mr. Marc Howze, who currently serves as Senior Advisor, Office of the Chairman. His retirement is effective February 15, 2024. While this is a significant personnel change, the filing does not provide further details on Mr. Howze's replacement or the immediate impact on the company's operations or strategic direction. Investors should monitor future filings for updates on leadership transitions and potential succession plans.

Oct 3, 2023 8-K

DEERE & CO 8-K Report, Corporate Update (Aug 30, 2023)

Deere & Company (DE) has filed a Current Report (8-K) on August 30, 2023, primarily announcing the declaration of its quarterly dividend on common stock. This filing, specifically Item 8.01 Other Events, indicates that the press release detailing this dividend action is attached as Exhibit 99.1. For investors, the key takeaway is confirmation of the regular dividend payout, which is a crucial signal of financial health and commitment to returning value to shareholders.

Aug 30, 2023 8-K

DEERE & CO 8-K Report, Financial Results (Aug 18, 2023)

Deere & Company reported strong third-quarter fiscal 2023 results (quarter ended July 30, 2023). Net income attributable to Deere was $2.978 billion, or $10.20 per diluted share, up 58% from $1.884 billion, or $6.16 per share, a year earlier. Worldwide net sales and revenues rose 12% to $15.801 billion, and net sales rose about 10% to $14.284 billion. Nine-month net income reached $7.797 billion ($26.35 per share), up 60%. Production & Precision Agriculture was the main driver, with quarterly operating margin expanding to 26.2% from 21.2%, supported mainly by price realization and higher shipment volumes. Small Ag & Turf and Construction & Forestry also improved, though Financial Services net income was roughly flat at $216 million. Management raised its fiscal 2023 net income forecast to $9.75 billion to $10.00 billion, citing favorable farm and construction fundamentals, a strong advance-order position, and stabilizing supply chains. The Financial Services outlook is weaker, with full-year net income forecast at $630 million versus $880 million in fiscal 2022, reflecting less-favorable financing spreads, a correction to the accounting for dealer financing incentives, higher credit-loss provisions, and higher SA&G expenses. Investors should note that quality-of-earnings items affected the quarter: a $243 million Brazilian tax ruling benefit and $47 million of related interest income in Q3, and a $173 million pretax ($135 million after-tax) charge in Q2 from the dealer incentive correction. Balance sheet and cash flow data show growth in both receivables and borrowings. Total assets rose to $103.4 billion from $90.0 billion at fiscal year-end 2022, and total borrowings (short-term and long-term) increased to roughly $62 billion. Nine-month operating cash flow was $2.9 billion, versus $0.4 billion a year earlier, largely reflecting working-capital movements. Deere repurchased $4.66 billion of stock in the nine months, up from $2.48 billion, and diluted share count fell to 292.1 million from 305.7 million, which supports per-share earnings growth.

Aug 18, 2023 8-K

DEERE & CO 8-K Report, Executive Changes (Aug 1, 2023)

Deere & Company (DE) announced a change in its Board of Directors through an 8-K filing on August 1, 2023. The company expanded its board size from 11 to 12 directors and elected L. Neil Hunn as a new director, effective the same date. Mr. Hunn brings valuable experience as the president and chief executive officer of Roper Technologies, Inc., a company focused on software, engineered products, and solutions. This strategic appointment signals a potential focus on technology integration or innovation within Deere's leadership. Investors should note that Mr. Hunn has no disclosed family relationships or known related-party transactions with Deere or its existing leadership, suggesting an independent addition to the board. The filing also includes a press release dated August 1, 2023, which details Mr. Hunn's appointment. While this information is provided under Regulation FD, it is important for investors to review the press release for further context on the company's rationale behind this board expansion and the specific expertise Mr. Hunn is expected to contribute. The addition of a director with a background in technology-related companies like Roper Technologies may indicate Deere's ongoing commitment to leveraging technological advancements in its agricultural and construction equipment sectors.

Aug 1, 2023 8-K

DEERE & CO 8-K Report, Corporate Update (May 31, 2023)

Deere & Company (DE) filed an 8-K report on May 31, 2023, primarily to announce the declaration of its quarterly dividend on common stock. This filing, referencing a press release issued on the same day, indicates a continued commitment to returning capital to shareholders. While not providing updated financial performance figures, the dividend declaration is a positive signal for income-focused investors and suggests management's confidence in the company's ongoing financial health and future prospects. Investors should note that this 8-K is a routine disclosure concerning a dividend payment and does not contain new material financial results or significant operational updates beyond what may have been previously communicated. For a comprehensive understanding of Deere's financial standing, investors should refer to their latest quarterly earnings report and subsequent filings.

May 31, 2023 8-K

DEERE & CO 8-K Report, Financial Results (May 19, 2023)

Deere & Company reported strong second-quarter fiscal 2023 results for the period ended April 30, 2023. Net income attributable to Deere rose 36% to $2.860 billion ($9.65 diluted EPS), up from $2.098 billion ($6.81) a year earlier. Total net sales and revenues increased 30% to $17.387 billion, and Equipment Operations net sales rose 34% to $16.079 billion. Growth was driven by price realization and higher shipment volumes, most notably in Production & Precision Agriculture, where sales rose 53% and operating margin expanded to 27.7% from 20.7%. Management cited favorable market conditions, an improving operating environment, and easing supply-chain constraints. Deere raised its full-year fiscal 2023 net income forecast to $9.25–$9.50 billion and expects Equipment Operations cash flow of $10.0–$10.5 billion. The company's segment outlook calls for Production & Precision Ag net sales up about 20% and Small Ag & Turf up about 5%, with price realization contributing significantly. Construction & Forestry sales are expected to rise about 15%. The quarter contained a notable negative: Financial Services net income fell 87% to $28 million. This was driven by a $135 million after-tax ($173 million pretax) correction to the accounting for dealer financing incentives, along with less favorable financing spreads and higher credit-loss provisions. Deere did not restate prior periods, calling the correction immaterial. Financial Services' full-year net income forecast was lowered to about $630 million from $880 million in fiscal 2022. Investors should weigh the strong equipment-segment momentum against the one-time accounting charge and the weaker finance-arm outlook.

May 19, 2023 8-K

DEERE & CO 8-K Report, Shareholder Vote Results (Feb 27, 2023)

Deere & Company's 8-K reports the results of its annual shareholder meeting held February 22, 2023. Shareholders re-elected all 11 director nominees to terms expiring at the 2024 annual meeting. Each nominee received far more votes for than against, though Gregory R. Page (about 14.2 million against) and Clayton M. Jones (about 12.9 million against) drew the most opposition. Shareholders approved, on an advisory basis, the compensation of Deere's named executive officers. Roughly 204.8 million shares voted for this proposal, against about 15.9 million against. Shareholders also backed an annual frequency for future say-on-pay votes, with about 216.9 million shares choosing one year. Deloitte & Touche LLP was ratified as the independent registered public accounting firm for fiscal 2023, with about 242.6 million shares in favor and 12.3 million against. A shareholder proposal asking for shareholder approval of senior managers' severance or termination payments above 2.99 times base salary plus target short-term bonus did not pass. It received about 90.5 million votes for and 129.2 million against. Because the one-year frequency won, the Board will hold annual say-on-pay votes until the next required frequency vote. For investors, the meeting shows strong support for management and governance practices, with the main dissent focused on executive pay and severance policy.

Feb 27, 2023 8-K

DEERE & CO 8-K Report, Corporate Update (Feb 22, 2023)

Deere & Company (NYSE: DE) filed a brief Form 8-K on February 22, 2023, to announce that its Board of Directors declared an increased quarterly common stock dividend of $1.25 per share, up $0.05 (about 4%) from the prior level. The dividend is payable May 8, 2023, to stockholders of record as of March 31, 2023. The filing was made under Item 8.01 (Other Events), with the full press release attached as Exhibit 99.1. For investors, the filing is a shareholder-return signal rather than a disclosure of financial results, guidance, or material operational change. A dividend increase of this size is modest in absolute terms but indicates that the Board is comfortable with the company's cash generation and balance sheet outlook. Income-oriented holders would see the higher payout reflected in their next distributions, and the record date of March 31, 2023 determines eligibility. The 8-K does not discuss earnings, cash flow, buybacks, segment performance, or forward guidance. Investors seeking those details would need to review Deere's quarterly and annual reports and its earnings materials. Based solely on this filing, the event is a routine capital-return decision with limited standalone impact on the company's fundamentals.

Feb 22, 2023 8-K

DEERE & CO 8-K Report, Financial Results (Feb 17, 2023)

Deere & Company reported first-quarter fiscal 2023 net income attributable to the company of $1.959 billion, or $6.55 per diluted share, up 117% from $903 million ($2.92) a year earlier. Total net sales and revenues rose 32% to $12.652 billion, and Equipment Operations net sales rose 34% to $11.402 billion. The prior-year quarter was depressed by about $90 million in one-time UAW ratification bonus costs, so part of the year-over-year improvement reflects an easier comparison. Growth was driven mainly by price realization and higher shipment volumes, with Production & Precision Ag operating margin reaching 23.2% versus 8.8% a year earlier. Management raised its full-year fiscal 2023 net income forecast to $8.75 billion to $9.25 billion. The company cited positive market fundamentals, low machine inventories, and continued solid execution. Segment guidance calls for Production & Precision Ag net sales up about 20%, Small Ag & Turf flat to up 5%, and Construction & Forestry up 10% to 15%, with price realization as the main contributor. Financial Services guidance was cut to $820 million from the prior $880 million, as tighter financing spreads offset a larger portfolio. The main investor watch items are the sharp rise in interest expense (to $479 million from $229 million), a $1.257 billion share repurchase in the quarter, and a cash flow from operations deficit of $1.246 billion. Equipment Operations operating cash flow was negative $559 million, a seasonal pattern as inventories and receivables build. Guidance for FY2023 net operating cash flow of $9.25 billion to $9.75 billion, along with Small Ag & Turf and Financial Services softness, will be the key tests of the thesis in coming quarters.

Feb 17, 2023 8-K

DEERE & CO 8-K Report, Corporate Update (Dec 7, 2022)

Deere & Company (DE) has filed an 8-K report on December 7, 2022, to announce a material event: the declaration of an increased quarterly dividend on its common stock. This action signals the company's confidence in its financial health and its commitment to returning value to shareholders. While the filing itself is brief and primarily serves to attach the related press release, the dividend increase is a positive development for investors seeking income from their investments in DE.

Dec 7, 2022 8-K

DEERE & CO 8-K Report, Financial Results (Nov 23, 2022)

Deere & Company reported strong fourth-quarter and full-year fiscal 2022 results, furnished under Form 8-K Items 2.02 and 7.01. Q4 net income attributable to Deere rose 75% to $2.246 billion ($7.44 per diluted share) on worldwide net sales and revenues up 37% to $15.536 billion. For fiscal 2022, net income was $7.131 billion ($23.28 per share, up 20%) on revenues of $52.577 billion, up 19%. Growth was driven by higher shipment volumes and strong price realization across the Production & Precision Agriculture, Small Agriculture & Turf, and Construction & Forestry segments, partially offset by supply-chain constraints, higher production costs, and Russia-related charges. Looking ahead, management forecasts fiscal 2023 net income attributable to Deere of $8.0 to $8.5 billion, on higher sales. Segment guidance includes Production & Precision Ag net sales up 15 to 20%, Small Ag & Turf flat to up 5%, and Construction & Forestry up roughly 10%, with price realization a major contributor. Financial Services net income is expected to reach about $900 million. Investors should note that results include special items: Russia/Ukraine charges (about $255 million pretax for fiscal 2022), a $326 million non-cash gain on remeasurement of the Deere-Hitachi joint venture, and a $90 million UAW ratification bonus. The company also disclosed a net exposure in Russia/Ukraine of roughly $266 million and has suspended shipments to Russia. For investors, the report points to a strong earnings trajectory and healthy demand for farm and construction equipment, but also highlights ongoing risks from supply-chain disruption, the Russia-Ukraine conflict, rising input costs, interest rates, and dealer inventory levels.

Nov 23, 2022 8-K

DEERE & CO 8-K Report, Executive Changes (Sep 1, 2022)

Deere & Company (NYSE: DE) announced via an 8-K filed September 1, 2022 that its Board of Directors elected Joshua A. (Josh) Jepsen, 44, as Senior Vice President and Chief Financial Officer, effective September 16, 2022. He succeeds Rajesh (Raj) Kalathur, who will remain President of John Deere Financial and take on the role of Chief Information Officer. Jepsen is a 23-year Deere veteran who most recently served as Deputy Financial Officer (since March 2022), and previously as Director of Investor Relations (2018-2022). His background spans internal audit, finance, accounting, operations in North America and Asia Pacific, and development of the company's Leap Ambitions sustainability goals. For investors, the filing is primarily a leadership transition rather than a financial event, and the 8-K contains no financial results or guidance. Compensation is disclosed as an annualized base salary of $850,000, a short-term incentive target raised to 100% of base salary, and a long-term incentive cash target of 105% of base salary ($892,500). These targets are tied to performance metrics including Operating Return on Assets, Operating Return on Sales, Return on Equity, Shareholder Value Added, and Total Shareholder Return, which aligns his pay with returns and shareholder value. The filing also discloses a related-party item: Jepsen's brother-in-law works in Deere's Production and Precision Agriculture operations, earned about $128,750 in fiscal 2021, and will not be supervised by Jepsen. The company states the pay is consistent with grade-level peers. The Item 7.01 press release is furnished, not filed, and is not subject to the liability provisions of Section 18 of the Exchange Act. Overall, the change is a continuity-oriented internal promotion of a finance and investor relations insider.

Sep 1, 2022 8-K

DEERE & CO 8-K Report, Financial Results (Aug 19, 2022)

Deere & Company (DE) reported third-quarter fiscal 2022 results for the quarter ended July 31, 2022, with net income attributable to the company of $1.884 billion, or $6.16 per diluted share, up 13% from $1.667 billion ($5.32) a year earlier. Net sales and revenues rose 22% to $14.102 billion, driven by higher production rates and price realization, although results were held back by supply-chain pressures, higher production costs, and production inefficiencies. Equipment Operations net sales rose 25% in the quarter, led by Production & Precision Agriculture (+43%) and Small Agriculture & Turf (+16%), with Construction & Forestry up 8%. Management raised its full-year fiscal 2022 net income outlook to $7.0 to $7.2 billion and guided to strong order books and early-order programs supporting demand in 2023. Full-year Equipment Operations net sales are forecast to rise sharply, with Production & Precision Ag up 25 to 30%, Small Ag & Turf up 10 to 15%, and Construction & Forestry up about 10%, with price realization a major contributor. Financial Services net income is expected to be slightly lower than fiscal 2021 (about $870 million) due to higher credit-loss provisions and less favorable financing spreads. Investors should weigh the strong top-line growth and pricing power against margin pressure from supply-chain disruptions, inflation, and the Russia/Ukraine conflict. Deere disclosed a net exposure of roughly $436 million in Russia/Ukraine, suspended shipments to Russia, and recorded $119 million of after-tax special-item expense in the first nine months, while a $326 million non-cash gain on the Hitachi joint-venture remeasurement partly offset these charges.

Aug 19, 2022 8-K

DEERE & CO 8-K Report, Executive Changes (May 31, 2022)

Deere & Company (DE) filed an 8-K on May 31, 2022 disclosing a senior leadership reshuffle centered on its finance function. The Board elected Rajesh (Raj) Kalathur to the additional role of Chief Financial Officer, effective immediately, while he keeps his titles as President of John Deere Financial and Senior Vice President of Global Information Technology. He succeeds Ryan D. Campbell as CFO, and Campbell was elected President, Worldwide Construction & Forestry and Power Systems, succeeding John Stone, who is leaving the company. Kalathur, 53, previously served as CFO from 2012 to 2019 and as CIO from 2018 to 2022, and joined Deere in 1996. For investors, the filing is primarily a governance and succession update rather than a financial event, and it contains no earnings, guidance, or capital allocation changes. Kalathur's compensation rises five percent to an annualized salary of $887,758, with his fiscal 2022 STI target at $887,759 and LTIC target at $932,147. His incentive rates are unchanged at 100% of base pay for STI and 105% for LTIC, and his December 2021 equity awards are unchanged. Payouts remain tied to operating return on assets, operating return on sales, return on equity, shareholder value added, and total shareholder return, so pay continues to track company performance. The Information Technology responsibilities that Kalathur held as CIO are being transferred to Ganesh Jayaram, who was appointed Chief Information Officer effective the same date. The company framed the changes as reflecting depth of talent and continuity in its smart industrial strategy. Because the CFO role is now combined with leadership of John Deere Financial, investors may want to monitor how the company allocates management attention across its equipment business and its financing arm, which had a loan portfolio of over $50 billion under Kalathur's leadership.

May 31, 2022 8-K

DEERE & CO 8-K Report, Corporate Update (May 25, 2022)

On May 25, 2022, Deere & Company (NYSE: DE) announced via Form 8-K (Item 8.01, Other Events) that its Board of Directors declared a quarterly common stock dividend of $1.13 per share, payable August 8, 2022 to stockholders of record as of June 30, 2022. The filing attaches the press release as Exhibit 99.1. The key news is an increase of 8 cents per share over the prior quarterly rate, roughly an 8% raise. For income-focused investors, this signals management's confidence in the company's earnings power and cash generation. Management attributed the increase to Deere's recent strong performance and the success of its Smart Industrial strategy, and CEO John C. May said it reflects confidence in the company's future direction. The filing is a routine disclosure with no financial statements, guidance, or quantitative results included. Investors should note that the dividend action alone does not reveal details on margins, cash flow, or capital allocation beyond the payout decision, so the broader investment case would need to rest on Deere's periodic reports and earnings materials.

May 25, 2022 8-K

Regulation FDExhibits & Filings

DEERE & CO 8-K Report, Financial Results (May 20, 2022)

Deere & Company reported second-quarter fiscal 2022 net income of $2.098 billion, or $6.81 per diluted share, up 17% from $1.790 billion ($5.68) a year earlier, on net sales and revenues of $13.370 billion, up 11%. Net sales for the quarter rose 9% to $12.034 billion, driven mainly by price realization and higher shipment volumes across Production & Precision Ag (+13%) and Construction & Forestry (+9%), while Small Ag & Turf grew 5%. Profitability was mixed beneath the headline: Production & Precision Ag operating profit rose 5% but margin compressed to 20.7%, and Small Ag & Turf operating profit fell 20% as production costs and a less favorable mix weighed. The Construction & Forestry profit surge (+66%) was flattered by a $326 million non-cash remeasurement gain on the Deere-Hitachi joint venture, and the quarter also absorbed about $120 million of pretax Russia/Ukraine charges and a $90 million UAW ratification bonus. Management raised its fiscal 2022 net income forecast to $7.0 to $7.4 billion, including the net $220 million benefit from special items in the quarter. The forecast implies strong segment sales growth, with Production & Precision Ag net sales expected up 25 to 30% and Construction & Forestry up 10 to 15%, supported by price realization of roughly 8 to 13%. Management cited supply-chain constraints that are limiting production and delivery schedules, as well as inflationary pressure on customers' input costs. Investors should weigh the strong top-line momentum and raised guidance against margin pressure, the Russia exit (net exposure of about $454 million, with Russia representing about 2% of annual sales), and the one-time gains that flatter reported earnings. Balance sheet and cash flow signals warrant attention. Six-month operating cash flow was negative $1.762 billion, versus positive $1.786 billion a year earlier, as inventories rose $2.3 billion to $9.03 billion and receivables increased. Cash and equivalents fell to $3.878 billion from $8.017 billion at fiscal year-end. Management still forecasts Equipment Operations net operating cash flow of $5.6 to $6.0 billion for the full year, and it reiterated its commitment to an 'A' credit rating and a dividend payout target of 25 to 35% of mid-cycle earnings. Analyst Day is scheduled for May 26, 2022.

May 20, 2022 8-K

DEERE & CO 8-K Report, Regulation FD Disclosure (May 17, 2022)

Deere & Company (DE) announced in an 8-K filing on May 17, 2022, that it will host its Analyst Day on Thursday, May 26, 2022. The event will commence at 8:00 a.m. Central Time and will feature the company's senior leadership and technology experts. The primary focus will be on discussing Deere's technology strategy and its role in realizing the recently announced "Leap Ambitions." Investors and interested parties can access a live webcast of the Analyst Day through the company's investor relations website. A recording of the event will also be made available on the website for a period following the live broadcast, providing flexibility for those unable to attend in real-time.

May 17, 2022 8-K

Regulation FDExhibits & Filings

DEERE & CO 8-K Report, Regulation FD Disclosure (May 11, 2022)

Deere & Company (DE) filed an 8-K on May 11, 2022, primarily to announce the date and time of their upcoming second-quarter 2022 earnings call. The call is scheduled for Friday, May 20, 2022, at 9:00 a.m. central time. This announcement is crucial for investors as it provides the platform for the company to discuss its financial and operating performance, offering insights into the company's recent results and future outlook. Investors should mark their calendars for this event, as it will be the primary source of detailed information regarding Deere's performance for the second quarter of 2022. The company will also make the earnings release, financial information, and the presentation available on its website (www.JohnDeere.com/earnings) alongside the broadcast. A recording of the call will be accessible on the website afterward, ensuring that interested parties can review the discussion at their convenience.

May 11, 2022 8-K

DEERE & CO 8-K Report, Shareholder Vote Results (Feb 25, 2022)

This 8-K filing from Deere & Company reports on the outcomes of their annual shareholder meeting held on February 23, 2022. Key decisions included the election of directors, advisory approval of executive compensation, ratification of their independent auditor, and approval of a new Nonemployee Director Stock Ownership Plan. All director nominees received strong support, and executive compensation was approved on an advisory basis, indicating shareholder confidence in the current leadership and compensation structure. Notably, a shareholder proposal seeking to lower the threshold for calling a special meeting did not pass. This suggests that the current structure for shareholder-initiated meetings aligns with the majority of shareholder sentiment or that the proposed change was not deemed beneficial by a significant portion of the voting shareholders. Investors can view these results as largely positive, reflecting stability in governance and executive compensation practices.

Feb 25, 2022 8-K