AABP Award 728x90

Deere reports first quarter earnings


Deere & Co. reported net income of $1.224 billion for its first quarter ended Jan. 31, or $3.87 per share, compared with net income of $517 million, or $1.63 per share, for the quarter ended Feb. 2, 2020. Worldwide net sales and revenues increased 19% in the first quarter of 2021 to $9.112 billion. Equipment operations net sales were $8.05 billion for the quarter, compared with $6.53 billion in 2020. “John Deere started 2021 on a strongly positive note,” said John May, chairman and CEO. “Our results were aided by outstanding performance across our business lineup and improving conditions in the farm and construction sectors. In addition, our smart industrial operating strategy is making a significant impact on the company’s results while it also helps our customers be more profitable and sustainable.” The company forecasts net income attributable to Deere & Co. for fiscal 2021 to be in a range of $4.6 billion to $5.0 billion.

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