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 reported a 5% increase in fourth-quarter net income to $757 million, or $2.39 per share, amid disciplined cost management. However, total net sales decreased 2% to $9.731 billion for Q4 and 9% to $35.540 billion for the full year. The company anticipates 2021 earnings between $3.6 billion and $4.0 billion, driven by improving agricultural demand and smart industrial strategies. Despite certain negative impacts, including employee-separation costs, Deere remains optimistic about market recovery in agriculture and construction sectors.
John Deere (NYSE: DE) has acquired 5G licenses in five counties in Iowa and Illinois, enhancing its manufacturing facilities' connectivity. This move is part of the FCC auction for the Citizens Broadband Radio Service spectrum and will accelerate the deployment of 5G technology across North America. With 5G, John Deere aims to upgrade its Smart Industrial strategy, facilitating smart manufacturing, IoT, and real-time data applications. The rollout is anticipated during fiscal year 2022, particularly in Rock Island, Scott County, Dubuque, Polk County, and Black Hawk County.
John Deere (NYSE: DE) is hosting a virtual benefit concert titled The Farm Must Go On on December 9, 2020, featuring country artists like Dustin Lynch and Maddie & Tae. The concert aims to raise funds for Farm Rescue, which assists farmers in crisis. Fans can enter a contest to win meet-and-greets with the artists by donating at least $10. All proceeds will support volunteer efforts to aid farmers affected by various adversities.
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John Deere (NYSE:DE), in collaboration with the National Black Growers Council and the Thurgood Marshall College Fund, has launched the LEAP coalition to address heirs' property rights and enhance Black farmers' livelihoods. The coalition aims to improve access to tools, technology, and educational resources needed for sustainable farming. Research shows that 60% of Black farmers lack secure title to their land, impeding their ability to leverage property value. The partnership underscores a commitment to racial equality and includes financial support for social justice organizations.
Deere & Company (NYSE: DE) has successfully completed its acquisition of Unimil, a prominent Brazilian provider of aftermarket service parts for sugarcane harvesters. This move aims to enhance Deere's commitment to the sugarcane sector in Brazil and offer cost-effective solutions to customers. Unimil, established in 1999, operates from Piracicaba and employs around 430 staff. This acquisition is expected to reshape Deere's operating model and help customers become more profitable and sustainable.
Deere & Company (NYSE: DE) has declared a quarterly dividend of $0.76 per share on common stock. This dividend will be payable on November 9, 2020, to stockholders of record as of September 30, 2020. This announcement reflects the company's ongoing commitment to providing returns to its shareholders.
Deere Company reported a net income of $811 million for Q3 2020, down 10% from $899 million in Q3 2019. Year-to-date net income dropped 21% to $1.993 billion. Worldwide net sales fell 11% to $8.925 billion for the quarter and 12% to $25.809 billion for the nine months. Operating margins reached 14.6%, bolstered by effective management during the pandemic. The company forecasts full-year net income of $2.25 billion, but faces uncertainties. Employee-separation programs announced, with a pretax expense of $175 million, aim to create a leaner organization.
Deere & Company (NYSE: DE) unveiled its Smart Industrial Operating Model on June 16, 2020, aimed at enhancing customer value and integrating smart technology with manufacturing excellence. This model emphasizes Production Systems, a holistic Technology Stack, and Lifecycle Solutions, aligning products and services with customer needs. CEO John May highlighted the importance of disciplined capital allocation to prioritize promising opportunities. The new strategy is expected to accelerate market responsiveness and drive profitability for both Deere and its customers.