Illinois-based agricultural equipment maker „Deere & Company“ reported a net profit of USD 1.245 billion, or USD 4.55 per share, for the fourth quarter ended 27 October. In the same period last year, the John Deere brand manager posted a net profit of $2.369 billion, or $8.26 per share.

For fiscal year 2024, net earnings for „Deere & Company“ were $7.100 billion, or $25.62 per share, compared to $10.166 billion, or $34.63 per share, in fiscal year 2023.

Annualized net sales and earnings for the fourth quarter of fiscal 2024 decreased 28% to $11.143 billion, and for the full fiscal year 2024 decreased 16% to $51.716 billion.

Gross sales were $9.275 billion for the quarter and $44.759 billion for the full year, compared to $13.801 billion and $55.565 billion respectively in fiscal year 2023.

„This year, in the face of significant market challenges, we have proactively adjusted our operations to better align with the current environment,

The „Deere & Company“ is projected to generate net earnings of $5.0-5.5 billion in fiscal year 2025.

„As we navigate the ongoing headwinds in our markets, we remain committed to making meaningful investments in our future while deepening our relationships with our customers," continued May. "Our team of more than 75,000 dedicated employees comes to work every day with a single purpose - to provide products and solutions that increase efficiency and reduce customers' operating costs.