Welcome to our dedicated page for Deere & Co news (Ticker: DE), a resource for investors and traders seeking the latest updates and insights on Deere & Co stock.
Deere & Company (NYSE: DE) is a major manufacturer of agricultural, construction, and forestry equipment, and its news flow reflects developments across these markets as well as its financial services activities. Company announcements highlight how John Deere supports essential work in producing food, fiber, fuel, and infrastructure, and how it applies advanced technologies and digital tools to its equipment portfolio.
On this page, readers can follow DE news related to quarterly and annual financial results, dividend declarations, and capital markets activity. Recent releases include detailed earnings reports for fiscal quarters, where Deere discusses net sales and revenues by segment, operating profit trends, and segment outlooks for Production & Precision Agriculture, Small Agriculture & Turf, Construction & Forestry, and Financial Services. The company also issues updates when its board declares quarterly dividends on Deere & Company common stock.
Corporate governance and leadership updates form another important category of news. Examples include announcements of new directors joining the board, changes in lead director roles, and the appointment of senior leaders to head key divisions such as Production & Precision Agriculture, Small Agriculture & Turf, and lifecycle solutions and customer success. These items provide context on how Deere aligns its leadership with its Smart Industrial Operating Model and technology-focused strategy.
Product and technology news is also featured, such as the launch of Operations Center™ PRO Service, a digital tool that expands self-repair capabilities and diagnostic support for John Deere equipment. In addition, Deere shares information on investor events, including investor day webcasts and earnings calls, and on community and foundation initiatives, such as support for the National FFA Organization. Investors, analysts, and industry observers can use this news feed to monitor how Deere navigates market conditions, advances its technology agenda, and manages its capital and governance decisions.
Deere & Company (NYSE: DE) will hold its third quarter 2022 earnings call on August 19, 2022, at 9:00 a.m. CT. The earnings call will discuss the company's financial and operating performance with analysts and investors. The call will be accessible via www.JohnDeere.com/earnings, where the recorded version will also be available post-call. Deere is a global leader in agricultural, construction, and forestry equipment, and provides financial services through John Deere Financial.
On August 2, 2022, Deere & Company (NYSE: DE) announced a minority investment in Hello Tractor, an ag-tech firm based in Nairobi, Kenya. Hello Tractor's platform connects tractor owners with smallholder farmers in Africa and Asia, providing tools for fleet management and customer booking. This investment aligns with Deere's strategy to enhance connectivity in agricultural equipment by 2026. Hello Tractor, part of Deere's Startup Collaborator program, aims to improve economic outcomes for smallholder farmers and currently employs approximately 25 people.
Deere & Company (NYSE:DE) announced the appointment of Felecia Pryor as Senior Vice President and Chief People Officer, effective August 15, 2022. Pryor brings nearly two decades of HR experience from BorgWarner and Ford Motor Company, where she held various executive roles. In her new position, she will oversee human resources, labor relations, and brand communications. Chairman and CEO John May expressed confidence in Pryor's abilities to strengthen the brand and attract top talent, highlighting her expertise in diversity, talent development, and performance management.
Deere & Company has announced leadership changes effective May 31, 2022, electing Ryan Campbell as President of Worldwide Construction & Forestry and Power Systems, succeeding John Stone. Campbell aims to enhance precision technology adoption and sustainable practices. Additionally, Raj Kalathur has been appointed Chief Financial Officer while retaining his role in John Deere Financial, overseeing accounting, treasury, and sustainability. Kalathur's leadership saw growth in the company’s financial portfolio exceeding $50 billion. This strategic shift is aimed at executing Deere's smart industrial strategy.
Allegion plc (NYSE: ALLE) announced John H. Stone as the new President and CEO, succeeding David D. Petratis effective July 11, 2022. Petratis, who led the company since its spin-off in 2013, will retire as executive chairman on January 2, 2023. Under his leadership, Allegion doubled its market capitalization and adjusted earnings per share, and made over 20 acquisitions. Stone brings over 18 years of leadership experience from Deere & Company, focusing on innovation and M&A, positioning Allegion for growth in smart security solutions.
On May 25, 2022, Deere & Company (NYSE: DE) announced a quarterly dividend increase to $1.13 per share, payable on August 8, 2022. This marks an 8% increase from the previous dividend rate, reflecting the company's strong performance and confidence in future growth, according to CEO John C. May. Shareholders of record by June 30, 2022 will receive this dividend. However, forward-looking statements in the release highlight potential risks linked to economic conditions and geopolitical uncertainties that could impact financial outcomes.
Deere & Company (NYSE: DE) reported a 17% increase in net income to $2.098 billion for Q2 2022, with earnings of $6.81 per share, compared to $1.790 billion or $5.68 per share in Q2 2021. Net sales rose 11% to $13.370 billion, driven by strong demand despite supply chain challenges. The company raised its full-year earnings forecast to $7.0-$7.4 billion, including a $220 million gain from special items. Outlook remains positive for agriculture equipment demand, despite inflationary pressures.
The John Deere Foundation has announced a $1 million donation to the World Food Program USA to combat global food insecurity, largely aggravated by the Ukraine crisis. The grant is split equally, with half supporting the humanitarian efforts of the UN World Food Programme and the other half aimed at scaling innovations for zero hunger. This follows previous contributions of $250,000 in 2022 and $500,000 in 2021. John Deere's support has positively impacted the lives of 9 million people, including 2.2 million smallholder farmers, highlighting the company's commitment to addressing hunger.
Deere & Company (NYSE: DE) has announced a multi-year charitable partnership with golfer Daniel Berger, committing $100,000 to support various charitable organizations instead of a traditional win bonus. Berger will showcase a John Deere branded golf bag during his debut at The Masters and will participate in the John Deere Classic, scheduled for June 27-July 3. This partnership underlines both parties' dedication to giving back to the community and enhancing the sport of golf.
John Deere (NYSE: DE) announced enhancements to its Customer Service ADVISOR tool, enabling customers and independent repair shops in the U.S. to purchase it directly from JohnDeereStore.com in May 2023. This tool will allow users to remotely download secure software updates to embedded controllers, improving self-repair capabilities. John Deere aims to provide more autonomy and uptime for equipment owners, reflecting its commitment to innovation and customer support. The expanded accessibility will empower customers to manage their equipment more effectively.
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