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 reported a strong fourth quarter with net income rising 69% to $1.283 billion, or $4.12 per share, driven by a 16% increase in net sales to $11.327 billion. Fiscal 2021 showed a net income of $5.963 billion, a 117% increase year-over-year. The company forecasts fiscal 2022 earnings between $6.5 and $7.0 billion amid robust demand for farm and construction equipment, despite anticipated supply chain challenges. With a new UAW contract in place, Deere reaffirms its commitment to workforce welfare and product quality.
On November 10, 2021, John Deere (NYSE: DE) was recognized as a CES® 2022 Innovation Awards Best of Innovation honoree in both the Robotics and Vehicle Intelligence & Transportation categories. This marks the third consecutive year the company has received this accolade. The award highlights John Deere's See & Spray technology, which utilizes computer vision and machine learning to optimize herbicide application in agriculture. The CES 2022 event will take place from January 5-8, 2022, in Las Vegas, NV.
On November 1, 2021, Deere & Company (NYSE: DE) announced the election of Leanne G. Caret to its board of directors. Caret, a seasoned manufacturing executive from The Boeing Company, brings over two decades of experience in aerospace and defense, making her a valuable addition. In 2020, Boeing generated approximately $35 billion in revenue from defense and space operations. Caret's diverse expertise is expected to enhance Deere's innovative strategies in smart industrial operations, further solidifying its leadership position. The board now consists of 12 members, with 11 being independent.
On October 14, 2021, the UAW initiated a strike against Deere & Company (NYSE: DE), impacting over 10,000 workers at 14 facilities in the United States. Deere's vice president of labor relations, Brad Morris, expressed the company's commitment to achieving a favorable outcome for employees and maintaining operations during the negotiations. However, the company currently lacks a timeline for resuming activities and concluding negotiations. The strike could have significant implications for the company’s operations and stock performance.
On October 10, 2021, the UAW announced that Deere & Company (NYSE: DE) production and maintenance employees voted against tentative collective bargaining agreements affecting over 10,000 workers at 14 U.S. facilities. Deere's VP of labor relations, Brad Morris, expressed disappointment but reiterated the company's commitment to the bargaining process while operations will continue as usual. The rejected agreements aimed to enhance wages and benefits for employees significantly.
Deere & Company (NYSE: DE) has reached a tentative agreement with the UAW on a new six-year labor contract for approximately 10,100 employees across Iowa, Illinois, and Kansas. Additional agreements cover nearly 100 employees at parts facilities in Denver and Atlanta. Brad Morris, VP of labor relations, noted the agreement honors employees' contributions and strengthens their commitment to providing competitive wages and comprehensive benefits. Employees will review the agreement terms prior to a ratification vote, and all operations will continue as scheduled.
The Deere Company (NYSE: DE) Board of Directors has declared a quarterly dividend of $1.05 per share, an increase of 17% compared to the previous dividend. This new rate reflects strong performance and confidence in the company's future direction. The dividend is payable on November 8, 2021, to shareholders recorded by September 30, 2021. The increase signifies the company's commitment to returning value to shareholders amidst ongoing operational success.
Deere reported a robust third quarter with net income of $1.667 billion ($5.32 per share), a significant increase from $811 million ($2.57 per share) a year ago. Net sales surged 29% to $11.527 billion, driven by strong performance across equipment segments, particularly Production and Precision Agriculture with a 29% increase. The company raised its full-year earnings forecast to $5.7 to $5.9 billion, reflecting favorable market conditions and a strategic focus on technology and customer value. Equipment operating margin stood at 19%.
On August 19, 2021, John Deere (NYSE: DE) announced the termination of its joint venture with Hitachi Construction Machinery. The agreement will see Deere acquire the joint-venture factories located in Kernersville, NC; Indaiatuba, Brazil; and Langley, Canada, effective February 28, 2022, pending regulatory approval. Deere will continue to manufacture its excavators while Hitachi will take over the distribution of its branded equipment in the Americas. This strategic move is aimed at enhancing Deere’s control over its manufacturing and marketing operations.
Deere & Company (NYSE: DE) and the UAW have commenced negotiations for a new labor agreement covering approximately 10,100 employees at 12 facilities, with the current agreement expiring on Oct. 1. Key facilities involved are located in Iowa, Illinois, and Kansas. An additional agreement is being negotiated for nearly 100 employees at parts facilities in Denver and Atlanta. Deere emphasizes its history of constructive collaboration with labor to ensure competitive compensation and career development.
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