John Deere Reports Profit of $10,166 Billion in Fiscal Year 2023

Deere & Company reported net income of US$10,166 billion in fiscal year 2023. The information was released today. In 2022, the value was US$7,131 billion.

According to company information, worldwide net sales and revenues decreased 1%, to US$ 15,412 billion, in the fourth quarter. But they increased by 16% to US$61,251 billion in fiscal year 2023.

“Deere’s fourth quarter and full year results can be attributed to the successful execution of our smart industrial operating model and the value customers recognize in our industry-leading products and solutions,” said John C. May, president and CEO.

Prospects for 2024

For fiscal 2024, Deere & Company said it expects net income of between $7,75 billion and $8,25 billion.

“While our end markets may fluctuate, we remain focused on disciplined execution and strategic investment in solutions that drive customer value,” said May.

“As evidenced by our 2024 guidance, we are demonstrating higher levels of structural profitability throughout the cycle while making our company more resilient and better equipped for the future.”