UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file no: 1-4121 DEERE & COMPANY (Exact name of registrant as specified in its charter) Delaware 36-2382580 (State of incorpo ration) (I ...

Financial Data and Key Metrics Changes - Deere & Company reported net sales and revenues of $15.801 billion, a 12% increase year-over-year, with equipment operations net sales up 10% to $14.284 billion [7] - Net income attributable to Deere was $2.978 billion, or $10.20 per diluted share, which included a $243 million tax benefit [7][16] - The equipment operations margin was reported at 22.6% for the quarter, exceeding expectations [6][17] Business Line Data and Key Metrics Changes - **Production & Precision Ag**: Net sales increased by 12% to $6.806 billion, with an operating profit of $1.782 billion and a 26.2% operating margin [8] - **Small Ag & Turf**: Net sales rose 3% to $3.739 billion, with an operating profit of $732 million and a 19.6% operating margin [8] - **Construction & Forestry**: Net sales were $3.739 billion, up 14%, with operating profits increasing to $716 million and a 19.1% operating margin [13] Market Data and Key Metrics Changes - In the U.S. and Canada, large ag equipment sales are expected to rise approximately 10% for the fiscal year, supported by strong demand and healthy farm net income [9] - Small Ag & Turf industry sales are projected to decline between 5% and 10% due to weaker consumer-oriented products [10] - European industry sales are forecasted to be flat to up 5%, while South American sales are expected to be flat to down 5% [11] Company Strategy and Development Direction - The company is focused on operational excellence and cost reduction, with significant improvements in supply chain management and production cost inflation [19][20] - Deere is integrating technology into its products to enhance value and drive higher average selling prices, with expectations for recurring revenue growth in the future [51][79] - The company is committed to investing in key markets like Brazil, despite short-term production cuts, to support long-term growth [28][69] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the agricultural fundamentals, with expectations for healthy farmer economics and continued strong demand for large ag equipment [25] - The construction market is expected to remain steady, driven by government infrastructure spending and rental re-fleeting [22] - The company anticipates a strong finish to fiscal year 2023, with raised net income guidance to between $9.75 billion and $10 billion [16] Other Important Information - The company is experiencing a significant reduction in premium freight costs, down nearly 50% compared to the previous year [20] - Deere's financial services net income for the third quarter was $216 million, reflecting a 3% year-over-year increase [15] Q&A Session Summary Question: Discussion on higher value per unit and precision ag take rates - Management indicated a continued trend of 3-4% growth in average selling prices beyond inflation, with increasing take rates for precision ag technologies [50][52] Question: Supply chain improvements and inventory management for next year - Management confirmed that supply chain improvements are expected to help manage inventory levels, with a default position to produce in line with retail sales [56][60] Question: Ag fundamentals in Brazil and inventory outlook - Management noted that Brazil's order book is full for the rest of 2023, with expectations to end the year with inventory at target levels [68][69] Question: Year-over-year pricing changes in Production & Precision Ag - Management stated that pricing realization for Production & Precision Ag was 12% in Q3, with expectations for high single digits in Q4 [72] Question: Sustainability of improved margin performance in Construction & Forestry - Management highlighted structural changes and technology integration as key factors supporting improved margins in the construction segment [76][79]

3Q 2023 Earnings Call Safe Harbor Statement and Disclosures This earnings call and accompanying materials may include forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “forecast,” “guidance,” “project,” “target,” “outlook,” “prospects,” “expect,” “estimate,” “will,” “goal,” “plan,” “anticipate,” “intend,” “predict,” “believe,” “likely,” “future,” “could,” “may ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file no: 1-4121 DEERE & COMPANY (Exact name of registrant as specified in its charter) Delaware 36-2382580 (State of incorpo ration) ( ...

Deere & Company (NYSE:DE) Q2 2023 Earnings Conference Call May 19, 2023 10:00 AM ET Company Participants Brent Norwood - Director of IR Josh Jepsen - CFO Dave Gilmore - SVP, Ag and Turf Sales and Marketing Kanlaya Barr - Director of Corporate Economics Rachel Bach - Manager of Investor Communications Conference Call Participants Jamie Cook - Credit Suisse Tim Thein - Citigroup Steven Fisher - UBS Matt Elkott - TD Cowen John Joyner - BMO Capital Markets Robert Wertheimer - Melius Research Nicole DeBlase - D ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 29, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file no: 1-4121 DEERE & COMPANY (Exact name of registrant as specified in its charter) Delaware 36-2382580 (State of incorpo ration) ...

1Q 2023 Earnings Call Safe Harbor Statement and Disclosures The earnings call and accompanying material include “forward-looking statements” within the meaning of the Safe Harbor Provisions of the U.S. Private Securities Litigation Reform Act of 1995 and concern the company’s plans and projections for the future, including estimates and assumptions with respect to economic, political, technological, weather, market acceptance, acquisitions and divestitures of businesses, anticipated transaction costs, the i ...

Deere & Company (NYSE:DE) Q1 2023 Earnings Conference Call February 17, 2023 10:00 AM ET Company Participants Brent Norwood - Director, Investor Relations Rachel Bach - Manager, Investor Communications Josh Jepsen - Chief Financial Officer Conference Call Participants Seth Weber - Wells Fargo Securities Dillon Cumming - Morgan Stanley John Joyner - BMO Capital Markets Tim Thein - Citigroup Stephen Volkmann - Jefferies David Raso - Evercore ISI Michael Feniger - Bank of America Jamie Cook - Credit Suisse Mir ...

Table of Contents | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------- ...

Deere & Company (NYSE:DE) Q4 2022 Earnings Conference Call November 23, 2022 10:00 AM ET Company Participants Brent Norwood - Director of Investor Relations Rachel Bach - Manager of Investor Communications John May - Chairman and Chief Executive Officer Josh Jepsen - Chief Financial Officer Conference Call Participants Tim Thein - Citigroup Seth Weber - Wells Fargo Securities Jamie Cook - Credit Suisse Stephen Volkmann - Jefferies Stanley Elliott - Stifel Tami Zakaria - JPMorgan Matt Elkott - Cowen & Com ...