Deere reports net income of $10.166 billion for fiscal year

Nov 30, 2023

Net income grows for quarter and full year, driven by solid market conditions, differentiated products, and strong execution.
Full-year 2024 earnings forecast to be $7.75 to $8.25 billion, as volumes return to mid-cycle levels.
Ongoing focus on structural profitability, investments that deliver customer value.

MOLINE — Deere & Company reported net income of $2.369 billion for the fourth quarter ended October 29, 2023, or $8.26 per share, compared with net income of $2.246 billion, or $7.44 per share, for the quarter ended October 30, 2022. For fiscal-year 2023, net income attributable to Deere & Company was $10.166 billion, or $34.63 per share, compared with $7.131 billion, or $23.28 per share, in fiscal 2022.

Worldwide net sales and revenues decreased 1 percent, to $15.412 billion, for the fourth quarter of fiscal 2023 and rose 16 percent, to $61.251 billion, for the full year. Net sales were $13.801 billion for the quarter and $55.565 billion for the year, compared with $14.351 billion and $47.917 billion in 2022.

“Deere’s fourth-quarter and full-year results can be attributed to the successful execution of our Smart Industrial Operating Model and the value that customers recognize in our industry-leading products and solutions,” said John C. May, chairman and chief executive officer. “We must also recognize and credit our dedicated employees, dealers, and suppliers, whose hard work and focus have been instrumental to our overall success.”

Source : Farmersforum

Video: Independent Seed, National Impact | On The Brink: Episode 9

A survey of 200 independent seed businesses reveals what Canada's seed sector actually contributes — and what it stands to lose.

On the Brink, Justin Funk, a third-generation agri-marketer, shares the findings of a national survey conducted in early 2026. The numbers reframe the conversation: independent seed companies in Canada represent upwards of $1.7 billion in dedicated seed infrastructure, approximately 3,000 full-time equivalent jobs in rural communities, and an estimated $20 million in annual community contributions. And roughly 90% of Canada's cereals, pulses, and other small pollinated crops flow through them.

The survey also asked how dependent these businesses are on public plant breeding to survive. The answer was unambiguous. For policymakers evaluating the future of publicly funded breeding programs, Funk argues the economic case for this sector and the case for public plant breeding are the same argument.

On the Brink is a cross-country video series exploring the future of plant breeding in Canada. Each episode features voices from across the industry in an open, ongoing conversation about innovation and long-term investment in Canadian agriculture.