Deere reports net profit of US$665,8 million in the second quarter

Deere & Company reported net income of $665,8 million for the second quarter ended May 3, 2020, or $2,11 per share, compared to net income of $1,135 billion, or $3,52 .28 per share for the quarter ended April 2019, 1,182. For the first six months of the year, net income attributable to Deere & Company was $3,73 billion, or $1,633 per share, compared to $ 5,07 billion or US$XNUMX per share, in the same period last year.

Worldwide net sales and revenue fell 18% to $9,253 billion in the second quarter of 2020 and declined 13% to $16,884 billion for six months. Net sales from equipment operations were $8,224 billion for the quarter and $14,454 billion for six months, compared with $10,273 billion and $17,214 billion last year.

"John Deere's top priority in addressing the coronavirus crisis has been protecting the health and well-being of employees while fulfilling its obligation as an essential business serving customers around the world," said John C. May, president and executive director. "We have had good success in these areas thanks to the proactive measures we have taken to keep employees safe and our production facilities and parts distribution centers operational. At the same time, the company has reached out to our local communities to help those in As a result pandemic, Deere and its employees have provided generous support to area food banks and other organizations offering assistance during this difficult time."