John Deere Q1 Report 2024

John Deere & Company reported net income of $1.751 billion for the first quarter ended January 28, 2024, or $6.23 per share, compared with net income of $1.959 billion, or $6.55 per share, for the quarter ended January 29, 2023.

Worldwide net sales and revenues decreased 4 percent, to $12.185 billion, in the most recent quarter. Net sales were $10.486 billion for the quarter, compared with $11.402 billion in 2023.

Highlights

• Strong quarterly operating margins from equipment operations demonstrate structural improvement near mid-cycle volumes.
• Fleet replenishment moderating as agricultural fundamentals normalize.
• Full-year net income now forecasted to be $7.50 to $7.75 billion.