Deere & Company Announces Fourth Quarter Fiscal 2024 Results

On November 21, 2024, Deere & Company filed a Form 8-K with the Securities and Exchange Commission, reporting the results of its operations for the fourth quarter of fiscal 2024. The company issued a press release detailing its financial performance for the period.

In the fourth quarter of 2024, Deere & Company reported significant financial achievements. Net sales and revenues for the fiscal year 2024 totaled $61,251 million, marking an increase from $51,716 million in the previous fiscal year. Additionally, net income attributable to Deere & Company stood at $10,166 million for fiscal 2024, compared to $7,100 million in fiscal 2023. Diluted earnings per share for the same period were reported at $34.63, up from $25.62 in the previous year.

The detailed financial information was made available through a press release and a presentation in connection with the investor earnings call. The press release, designated as Exhibit 99.1 in the filing, and the fourth quarter 2024 earnings conference call presentation, labeled as Exhibit 99.2, were furnished alongside the Form 8-K submission.

Looking ahead, the company provided an outlook for the future, forecasting an effective tax rate of 23-25% for fiscal year 2025. Deere & Company also presented estimates for net income attributable to Deere & Company, forecasting it to be in the range of $5.0-5.5 billion for fiscal 2025. Furthermore, the net operating cash flow for equipment operations is estimated to be approximately $4.5-5.5 billion for the same period.

These financial results and outlook represent strong performance and strategic planning by Deere & Company, reflecting its position in the industry and commitment to delivering value to its investors and stakeholders. The company’s executive team remains optimistic about the future trajectory based on the reported figures and forward-looking estimates.

The next earnings call for Deere & Company, focusing on the first quarter of 2025, is scheduled for February 13, 2025, at 9:00 a.m. Central Time. Investors and analysts are expected to gain further insights into the company’s performance and future strategies during this upcoming call.

The information contained in this filing provides a comprehensive overview of Deere & Company’s financial standing and sets a positive tone for its future growth and operational endeavors. Investors and stakeholders are encouraged to review the detailed financial statements and outlook presented in the filing for a deeper understanding of the company’s performance.

This article is based on the Form 8-K filed by Deere & Company with the Securities and Exchange Commission on November 21, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Deere & Company’s 8K filing here.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.