Welcome to our dedicated page for Deere & news (Ticker: DE), a resource for investors and traders seeking the latest updates and insights on Deere & stock.
Deere & Company reports recurring business updates on agricultural equipment, construction and forestry machinery, turf and utility equipment, and John Deere Financial. Company news commonly covers earnings releases, earnings-call schedules, segment demand, shipments, order books, and financial-services activity tied to retail customer and dealer financing.
Other Deere updates include dividend declarations, board and senior leadership changes, material agreements, brand partnerships, and technology collaboration programs. Product and innovation themes often involve precision agriculture, automation, advanced sensing, analytics, telematics, robotics, and digital tools for agriculture, construction, roadbuilding, grounds care, and related equipment markets.
Deere expands its U.S. technology operations by opening a new office in Austin, Texas. This hub will focus on attracting talent such as data scientists and engineers to drive innovation aimed at improving farming profitability and sustainability. The location provides access to regional universities and startups, enhancing collaboration within the tech community. Deere's move is strategic for accessing a diverse talent pool and aligns with its mission to use technology for solving global agricultural challenges.
The Deere & Company (NYSE: DE) Board of Directors has declared a quarterly dividend of $1.05 per share on common stock. This dividend will be payable on May 9, 2022, to stockholders of record as of March 31, 2022. This announcement reflects the company's commitment to returning value to its investors while maintaining stable cash flows.
Deere & Company (NYSE:DE) reported a net income of $903 million for Q1 2022, down 26% from $1.224 billion in Q1 2021. Despite this, net sales rose 5% to $9.569 billion, driven by solid equipment operations. The company raised its fiscal 2022 earnings forecast to $6.7 to $7.1 billion. Challenges included higher production costs from a UAW contract and ongoing supply chain issues. New goals were set under the Smart Industrial strategy, aimed at enhancing economic value and sustainability for stakeholders. Financial services net income increased by 13% to $231 million.
Deere & Company (NYSE: DE) has completed its acquisition of a majority stake in Kreisel Electric Inc., noted for its advanced immersion-cooled battery technology. This strategic move, announced in December 2021, is expected to enhance Deere's capabilities in high-density electric battery modules and charging infrastructure. Kreisel Electric, based in Austria, continues to operate under its brand, employing around 180 people. This acquisition aligns with Deere’s commitment to innovation in agriculture and construction sectors.
Deere & Company has introduced seven new startups to its 2022 Startup Collaborator program, enhancing its engagement with innovative technologies. The program allows selected startups, including Burro, Crop.Zone, and Four Growers, to test their solutions with John Deere's customers and dealers over a year. This initiative aims to create value in agricultural technology, facilitating collaboration between Deere and these startups without formal commitments. The program was initiated in 2019 and continues to focus on integrating external innovations into Deere's offerings.
John Deere (NYSE: DE) unveiled a fully autonomous tractor at CES 2022, designed for large-scale production. This innovative machine combines the 8R tractor with advanced features such as TruSet-enabled chisel plow and GPS guidance. The autonomous tractor addresses the challenge of feeding a projected global population increase of 50% by 2050, despite diminishing agricultural land and labor resources. Equipped with stereo cameras for obstacle detection and precision positioning, the tractor enables farmers to monitor operations through a mobile app. Availability is expected later this year.
John Deere (NYSE: DE) has agreed to acquire a majority stake in Kreisel Electric, a company specializing in advanced battery technology for e-mobility and stationary systems. This acquisition enhances Deere's capacity to integrate high-density battery solutions into its product lines and improve its sustainability goals. Kreisel's technology supports off-highway vehicles and aims to boost demand for electric propulsion systems. The deal is pending regulatory approval in Austria and is expected to close in approximately 60 days.
Deere & Company (NYSE: DE) announced the opening of a new office in Chicago, aiming to create 150 IT jobs within two years, ultimately reaching 300 positions. The facility will focus on eCommerce, cloud, and data analytics, integral to Deere's smart industrial strategy. Governor JB Pritzker highlighted the city's role in technology and agriculture. This investment, supported by an EDGE agreement from the Illinois Department of Commerce, solidifies Illinois' status as a leader in agricultural technology.
Deere & Company (NYSE: DE) has announced a regular quarterly dividend of $1.05 per share on its common stock. This dividend will be payable on February 8, 2022, to stockholders of record as of December 31, 2021. This declaration reflects the company's commitment to returning value to shareholders while maintaining financial stability.
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.