Welcome to our dedicated page for Deere & Co news (Ticker: DE), a resource for investors and traders seeking the latest updates and insights on Deere & Co stock.
Deere & Company, commonly known as John Deere, is a leading American corporation specializing in the design, manufacture, and distribution of agricultural machinery, heavy equipment, forestry machinery, diesel engines, and lawn care equipment. With a robust portfolio, Deere & Company operates through four key segments: production and precision agriculture, small agriculture and turf, construction and forestry, and John Deere Capital. These segments collectively address the diverse needs of customers by providing cutting-edge machinery and comprehensive financial services.
Deere’s production and precision agriculture segment delivers innovative solutions for high-production farming operations, while the small agriculture and turf segment caters to smaller-scale farms and lawn care needs. The construction and forestry division supports large-scale construction and forest management projects with reliable, high-performance equipment. John Deere Capital plays a crucial role by offering retail and wholesale financing solutions, thereby facilitating the purchase of Deere machinery through its extensive dealer network, which includes over 2,000 locations in North America and approximately 3,700 locations globally.
Recent achievements include the launch of the 2024 Startup Collaborator program and the introduction of new Model Year 2025 equipment, enhancing the company’s commitment to innovation and customer satisfaction. John Deere’s financial performance remains strong, with a reported net income of $2.370 billion for the second quarter of 2024 and significant investments in technologies such as the John Deere Autonomous 8R Tractor, See & Spray™, and E-Power Backhoe, designed to meet global demands for food, shelter, and infrastructure.
The company’s strategic vision centers on the Smart Industrial Operating Model, emphasizing the development of advanced solutions that increase productivity and sustainability. Despite fluctuating market conditions, Deere & Company remains focused on disciplined execution and continuous investment in customer-centric innovations to drive future growth and resilience.
Deere & Company (NYSE: DE) will host its Q1 2023 earnings call on February 17, 2023, at 9:00 a.m. CT. The call aims to provide insights into the company's financial and operational performance to analysts and investors. All interested parties can access the earnings call through www.JohnDeere.com/earnings, where a recorded version will be made available afterward. As a leader in advanced agricultural and construction products, Deere continues to cater to a growing global demand for resources.
John Deere unveiled innovative technologies during CES 2023, including ExactShot and an electric excavator. ExactShot enables farmers to reduce starter fertilizer usage by over 60%, improving cost-efficiency and environmental sustainability. This technology could save more than 93 million gallons of fertilizer annually. The electric excavator, powered by Kreisel batteries, promises lower operational costs, reduced noise, and zero emissions while enhancing reliability. These advancements aim to support farmers' productivity and meet the increasing global demand for food as the population grows.
John Deere (NYSE: DE) announced a record $55.5 million in community investments for 2022, a 30% increase from the previous year, which exceeds its commitment of investing at least 1% of average net income. The John Deere Foundation contributed $22.1 million to this total, supporting initiatives aimed at combating hunger. Notably, over $3 million was allocated to food banks, and nearly $5 million aimed at helping 3.8 million farmers enhance their food security. Deere's employees also volunteered 174,518 hours in support of these causes.
On December 7, 2022, Deere & Company (NYSE: DE) announced a quarterly dividend increase of $1.20 per share, payable on February 8, 2023, to shareholders recorded by December 30, 2022. This new dividend represents a 6% boost, adding 7 cents to the previous rate. This increase reflects the company's ongoing commitment to delivering value to its shareholders and confidence in its financial stability.
Deere & Company (NYSE: DE) reported a substantial rise in fourth-quarter net income, reaching $2.246 billion or $7.44 per share, up 75% from the previous year. Fiscal 2022 net income was $7.131 billion, a 20% increase year-over-year. Net sales surged 37% in Q4 to $15.536 billion, with full-year sales climbing 19% to $52.577 billion. The company forecasts fiscal 2023 net income between $8.0 billion and $8.5 billion, driven by strong demand for agricultural and construction equipment.
The LEAP Coalition has partnered with the Center for Heirs' Property Preservation to address barriers faced by Black farmers regarding heirs' property. Established by John Deere, the National Black Growers Council, and the Thurgood Marshall College Fund, the coalition aims to enhance Black farmers' livelihoods. The Center provides legal assistance to clear property titles, crucial for enabling sustainable land use and generational wealth. John Deere's investment will expand the Center's resources, aiding families in securing clear titles and preserving their land.
Deere & Company (NYSE: DE) will conduct its fourth quarter 2022 earnings call on November 23, 2022, at 9:00 a.m. central time. The earnings call is intended for analysts, investors, and the financial community to review the company's financial and operational performance. Interested parties can access the call via www.JohnDeere.com/earnings, where a recording will also be available afterwards. Deere continues to lead in providing advanced products and technology in agriculture and construction sectors.
On November 11, 2022, Deere & Company (NYSE: DE) announced a partnership with the U.S. Army Reserve Private Public Partnership Office to assist service members transitioning to civilian careers. The agreement enhances access to education and skills development for active-duty soldiers moving into the reserves, addressing high unemployment rates among veterans. Since joining the SkillBridge program in August 2020, over 395 service members have filled critical roles at Deere. This initiative aims to improve financial stability for veterans and support local community growth.
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