Sector: Industrials|Industry: Farm & Heavy Construction Machinery|Market Cap: $119.61B|Employees: 75.8K
Deere & Company is a global leader in the production of agricultural, turf, construction, and forestry equipment and solutions. Primary revenue streams are generated through the sales of equipment, parts, and services. The company's market position is strong, leveraging its brand recognition and technological advancements as key competitive advantages, and it has a significant global presence.
Net sales decreased to $11.4B in Q3 2024 from $14.3B in Q3 2023, a 17% decline, driven by lower sales volumes across all segments. This indicates a significant contraction in the company's revenue generation compared to the prior year.
Net income attributable to Deere & Company fell to $1.7B in Q3 2024 from $3.0B in Q3 2023, representing a 42% decrease. This significant drop in profitability is a major concern, reflecting the impact of lower sales and other factors.
Diluted earnings per share decreased to $6.29 in Q3 2024 from $10.20 in Q3 2023, a substantial drop, reflecting the significant decline in net income. This decrease in EPS will likely negatively impact investor sentiment.