February 17, 2023 — Deere (NYSE:DE) Deere & Company reported net income of $1.959 billion for the first quarter ended January 29, 2023, or $6.55 per share.
In Q1 2023, the financial report achieved revenue of 12.652 billion US dollars, the previous value was 9.569 billion US dollars, and the expected value was 11.28 billion US dollars, exceeding market expectations by 12.16%; Earnings per share were $6.55 vs $2.92 prior, and $5.56 expected, beating market expectations by 17.81%.
Worldwide net sales and revenues increased 32 percent, to $12.652 billion, in the most recent quarter. Net sales were $11.402 billion for the quarter, compared with $8.531 billion in 2022.
Net income attributable to Deere & Company for fiscal 2023 is forecast to be in a range of $8.75 billion to $9.25 billion.
DEERE & COMPANY STATEMENTS OF CONSOLIDATED INCOME
About DEERE & COMPANY
Deere & Company (www.JohnDeere.com) is a global leader in the delivery of agricultural, construction, and forestry equipment. We help our customers push the boundaries of what’s possible in ways that are more productive and sustainable to help life leap forward. Our technology-enabled products including John Deere Autonomous 8R Tractor, See & Spray™, and E-Power Backhoe are just some of the ways we help meet the world’s increasing need for food, shelter, and infrastructure. Deere & Company also provides financial services through John Deere Financial.