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), the global leader in agricultural and construction equipment manufacturing, maintains this dedicated news hub for investors and industry professionals. Access official press releases, financial updates, and strategic announcements from the pioneer of precision agriculture technology.
This resource consolidates John Deere's operational developments across its core segments: advanced farming machinery, intelligent construction solutions, and integrated financial services. Users will find timely updates on earnings reports, product innovations, sustainability initiatives, and market expansion efforts.
Key content categories include quarterly financial disclosures, leadership updates, technological advancements in autonomous equipment, and dealer network developments. All materials are sourced directly from the company to ensure regulatory compliance and factual accuracy.
Bookmark this page for streamlined access to DE's corporate communications. Combine these verified updates with Stock Titan's analytical tools to monitor the company's performance in capital-intensive industries and evolving global markets.
Deere reported a 25% increase in third-quarter net sales, reaching $14.102 billion, with net income of $1.884 billion, or $6.16 per share. Year-to-date, net income stands at $4.885 billion. The company revised its full-year earnings outlook to $7.0-$7.2 billion, attributing growth to production increases despite ongoing supply-chain challenges. Operating profits in Production & Precision Agriculture climbed 43%, while Small Agriculture & Turf faced a 5% profit decline amid rising costs. Deere anticipates steady demand for 2023, supported by strong order books and customer fundamentals.
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.
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