Deere Q4 Earnings Exceed Wall Street Expectations

Deere & Company reported net income of $2.246 billion for the fourth quarter ended Oct. 30, 2022, compared with net income of $1.283 billion for the quarter ended Oct. 31, 2021. For fiscal-year 2022, net income attributable to Deere & Company was $7.131 billion compared with $5.963 billion, in fiscal 2021.

Worldwide net sales and revenues increased 37%, to $15.536 billion, for the fourth quarter of fiscal 2022 and rose 19%, to $52.577 billion, for the full year. Equipment operations net sales were $14.351 billion for the quarter and $47.917 billion for the year.

“Deere’s strong performance for both the fourth quarter and full year is a tribute to our dedicated team of employees, dealers, and suppliers throughout the world,” said John C. May, chairman and chief executive officer.

Source: Deere.com