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John Deere Reports $61.3 Billion in 2023 Revenue

Deere & Company reported net income of $2.369 billion for the fourth quarter ended Oct. 29, 2023, compared with net income of $2.246 billion for the quarter ended Oct. 30, 2022. For fiscal-year 2023, net income attributable to Deere & Company was $10.166 billion compared with $7.131 billion in fiscal 2022.

Worldwide net sales and revenues decreased 1%, to $15.412 billion, for the fourth quarter of fiscal 2023 and rose 16%, 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. 

Production & precision agriculture revenue for the fourth quarter was $7 billion, down 6% from $7.4 billion year-over-year. For the full fiscal year 2023, production & precision ag revenue was $26.8 billion, up 22% from $22 billion in 2022.

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In The Field Update - Red Angus Operation

Video: In The Field Update - Red Angus Operation

For this week’s In the Field Update, we set out to Western Nebraska to catch up with local producer, to see how things are progressing out near Bayard Nebraska. Here is our conversation from earlier this week.