Deere Q2 net income $2.37B, EPS $8.53, down 17% YoY; FY2024 forecast cut to ~$7.0B

DEERE & CO

2024-Q2 EPS reported $14.74 revenue$27,420,000,000

Net income $2.370B ($8.53 diluted EPS) vs $2.860B ($9.65) in prior-year quarter, down 17%.
Worldwide revenue $15.235B, down 12% YoY; net sales $13.610B vs $16.079B.
Production & Precision Ag op profit $1.650B (-24%); Small Ag & Turf $571M (-33%); Construction & Forestry $668M (-20%).
Full-year net income forecast revised to approximately $7.0 billion.
Segment outlook: Large ag in US/Canada down ~15%; South America down 15-20%; construction equipment flat to down 5%.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DEERE & CO reported fiscal year 2024 results: net income approximately $7.0 billion.

Period: fiscal year 2024
Net income: approximately $7.0 billion
Result: guidance update

Exact text from the filing

Net income attributable to Deere & Company for fiscal 2024 is forecasted to be approximately $7.0 billion.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DEERE & CO reported quarter ended April 30, 2023 (comparative) results: net income $2.860 billion, EPS $9.65 per share.

Period: quarter ended April 30, 2023 (comparative)
Net income: $2.860 billion
EPS: $9.65 per share
Result: reported results

Exact text from the filing

compared with net income of $2.860 billion, or $9.65 per share, for the quarter ended April 30, 2023

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DEERE & CO reported second quarter ended April 28, 2024 results: net income $2.370 billion, EPS $8.53 per share.

Period: second quarter ended April 28, 2024
Net income: $2.370 billion
EPS: $8.53 per share
Result: reported results

Exact text from the filing

Deere & Company reported net income of $2.370 billion for the second quarter ended April 28, 2024, or $8.53 per share

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Source: SEC EDGAR

accession 0001558370-24-008339

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