Deere & Company reported net income of USD 1.245 billion for the fourth quarter ended October 27, 2024, compared with net income of USD 2.369 billion for the quarter ended October 29, 2023. For fiscal-year 2024, net income attributable to Deere & Company was USD 7.100 billion, compared with USD 10.166 billion in fiscal 2023.
Worldwide net sales and revenues decreased 28 percent, to USD 11.143 billion, for the fourth quarter of fiscal 2024 and decreased 16 percent, to USD 51.716 billion, for the full year. Net sales were USD 9.275 billion for the quarter and USD 44.759 billion for the year, compared with USD 13.801 billion and USD 55.565 billion in fiscal 2023, respectively.
“Amid significant market challenges this year, we proactively adjusted our business operations to better align with the current environment,” said John May, chairman and CEO of Deere & Company. “Together with the structural improvements made over the past several years, these adjustments enable us to serve our customers more effectively and achieve strong results across the business cycle.”
Full-year 2025 earnings are projected to range from USD 5.0 to 5.5 billion, highlighting improved structural performance.
