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Friday, February 23, 2024

Deere Reports First Quarter Net Income of $1.751 Billion

Strong quarterly operating margins from equipment operations demonstrate structural improvement near mid-cycle volumes. Fleet replenishment moderating as agricultural fundamentals normalize. Full-year net income now forecasted to be $7.50 to $7.75 billion. 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. Worldwide net sales and revenues decreased 4 percent, to $12.185 billion, in the most recent quarter. N... Read More

Friday, February 23, 2024

John Deere Announces Strategic Partnership with SpaceX to Expand Rural Connectivity to Farmers

Deere & Company (NYSE: DE) announced it has entered into an agreement with SpaceX to provide cutting-edge satellite communications (SATCOM) service to farmers. Utilizing the industry-leading Starlink network, this solution will allow farmers facing rural connectivity challenges to fully leverage precision agriculture technologies. This partnership, an industry first, will enable John Deere customers to be more productive, profitable, and sustainable in their operations as they continue to provide food, fuel, and fiber for their communities and a growing global population. "The value o... Read More