John Deere Full-Year Report 2023

John Deere & Company reported net income of $2.369 billion for the fourth quarter ended October 29, 2023, or $8.26 per share, compared with net income of $2.246 billion, or $7.44 per share, for the quarter ended October 30, 2022. For fiscal year 2023, net income attributable to Deere & Company was $10.166 billion, or $34.63 per share, compared with $7.131 billion, or $23.28 per share, in fiscal 2022.

Worldwide net sales and revenues decreased 1 percent, to $15.412 billion, for the fourth quarter of fiscal 2023 and rose 16 percent, to $61.251 billion, for the full year. Net sales were $13.801 billion for the quarter and $55.565 billion for the year, compared with $14.351 billion and $47.917 billion in 2022.

Highlights

  • Net income grows for quarter and full year, driven by solid market conditions, differentiated products, and strong execution.
  • Full-year 2024 earnings forecast to be $7.75 to $8.25 billion, as volumes return to mid-cycle levels.
  • Ongoing focus on structural profitability, investments that deliver customer value.

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