John Deere Full-Year Report 2022

John Deere & Company reported net income of $2.246 billion for the fourth quarter ended October 30, 2022, or $7.44 per share, compared with net income of $1.283 billion, or $4.12 per share, for the quarter ended October 31, 2021. For fiscal year 2022, net income attributable to Deere & Company was $7.131 billion, or $23.28 per share, compared with $5.963 billion, or $18.99 per share, in fiscal 2021.

Worldwide net sales and revenues increased 37 percent, to $15.536 billion, for the fourth quarter of fiscal 2022 and rose 19 percent, 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, compared with corresponding totals of $10.276 billion and $39.737 billion in 2021.

Highlights

• Fourth-quarter net income rises sharply on net sales gain of 40%, demonstrating strong execution in face of continued supply-chain constraints.
• Market environment bolstered by favorable industry fundamentals and continuation of strong demand for farm and construction equipment.
• Full-year 2023 forecast calls for higher sales and net income of $8.0 to $8.5 billion.