From Financial Modeling Prep: 2024-11-22 07:29:00

Deere & Company (NYSE:DE) beat analyst expectations with fourth-quarter earnings, despite market challenges. Stock rose over 8% as the company reported net income of $1.245 billion ($4.55 per share) on revenue of $11.14 billion, surpassing estimates. However, net income fell 47% and revenue dropped 28% year-over-year.

Production & Precision Agriculture segment sales fell 38%, while Small Agriculture & Turf and Construction & Forestry segments declined 25% and 29%, respectively. Deere cited broad challenges across its business lines for the decreases in net sales.

Deere’s fiscal 2025 outlook is cautious, with projected net income of $5.0 billion to $5.5 billion. The company anticipates a 30% decrease in U.S. and Canada large agriculture equipment sales and a 10% decline in small agriculture, turf, and construction equipment sales in the region.



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