Deere & Co reports a 17% 3Q decline in net sales to $13.152bn, outperforming consensus expectations.

Deere & Co reported a 17% decline in third-quarter net sales and revenue to $13.152 billion, outperforming the consensus expectation of $10.944 billion. While maintaining the 2024 net income forecast at $7 billion, the company attributed the results to its disciplined execution amidst challenging conditions in the global agricultural and construction sectors. Deere managed to surpass analysts' projections, with strong pricing and cost-cutting measures protecting profit margins amidst a slump in demand for farm equipment.

August 14, 2024
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