Deere Q1 net income falls 11% to $1.75B; guides FY2024 to $7.50-7.75B

DEERE & CO

2024-Q1 EPS reported $6.23 revenue$12,185,000,000

Net income of $1.751B ($6.23 EPS) vs $1.959B ($6.55 EPS) YoY; revenue $12.185B (-4%).
Full-year FY2024 net income forecast $7.50-$7.75B, down from FY2023; fleet replenishment moderating.
Production & Precision Ag sales $4.849B (-7% YoY); Small Ag & Turf sales $2.425B (-19% YoY).
Construction & Forestry sales flat at $3.212B; operating profit $566M (-9% YoY).
Industry outlook: Large Ag (US/Canada) down 10-15%; Small Ag down 5-10%; Europe down 10-15%.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

DEERE & CO reported first quarter ended January 28, 2024 results: net income $1.751 billion, EPS $6.23 per share. Guidance reaffirmed.

Period: first quarter ended January 28, 2024
Net income: $1.751 billion
EPS: $6.23 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Deere & Company reported net income of $1.751 billion for the first quarter ended January 28, 2024, or $6.23 per share, compared with net income of $1.959 billion, or $6.55 per share, for the quarter ended January 29, 2023.

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Source: SEC EDGAR

accession 0001558370-24-001189

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