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 & 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.