John Deere(US:DE)2024-11-21 19:20Financial Performance - FY2024 - Deere & Company's net sales and revenues for FY2024 reached $61251 million, compared to $51716 million in FY2023[4] - Net sales for Equipment Operations in FY2024 were $55565 million, a 19% increase from $44759 million in FY2023[6] - Net income attributable to Deere & Company for FY2024 was $10166 million, compared to $7100 million in FY2023, with diluted EPS increasing to $3463 per share from $2562 per share[6] Financial Performance - 4Q2024 - Net sales and revenues for 4Q2024 were $11143 million, a 28% decrease compared to $15412 million in 4Q2023[9] - Net sales for Equipment Operations in 4Q2024 were $9275 million, a 33% decrease from $13801 million in 4Q2023[11] - Net income attributable to Deere & Company for 4Q2024 was $1245 million, compared to $2369 million in 4Q2023, with diluted EPS decreasing to $455 per share from $826 per share[11] Segment Performance - 4Q2024 - Production and Precision Ag net sales in 4Q2024 were $4305 million, a 38% decrease from $6965 million in 4Q2023[14] - Small Ag and Turf net sales in 4Q2024 were $2306 million, a 25% decrease from $3094 million in 4Q2023[19] - Construction and Forestry net sales in 4Q2024 were $2664 million, a 29% decrease from $3742 million in 4Q2023[38] Industry Outlook - FY2025 - The industry anticipates a ~30% decrease in Large Ag in the U.S and Canada[24] - The industry anticipates a ~10% decrease in Small Ag and Turf in the U.S and Canada[25] - Europe Ag is expected to decrease by 5-10%[27] Business Segment Outlook - FY2025 - Production and Precision Ag net sales are forecasted to be ~$20834 million with an operating margin of 17-18%[32] - Small Ag and Turf net sales are forecasted to decrease by ~10% with an operating margin of 13-14%[36] - Construction and Forestry operating margin is expected to be 115-125%[46] Deere & Company Outlook - FY2025 - Net income attributable to Deere & Co is forecasted to be ~$16 billion[48] - Net operating cash flow is expected to be $45-55 billion[48]