Deere & Company (NYSE:DE) reports net income of $722 million

On Wednesday Deere & Company (NYSE:DE) started its trading session with the price $168.5 and closed at price of $169.06 by scoring -4.3%. Day range of the stock was $167.05 – $172.37. DE stock traded with total volume of 7626685 shares while the average trading capacity remained 1750657 shares.  Earnings per share was $10.3. DE has total market capitalization of $53232428611.

On Nov. 27, 2019, Deere & Company (NYSE:DE) declared net income of $722 million for the fourth quarter ended November 3, 2019, or $2.27 per share, compared with net income of $785 million, or $2.42 per share, for the quarter ended October 28, 2018. For fiscal 2019, net income attributable to Deere & Company was $3.253 billion, or $10.15 per share, compared with $2.368 billion, or $7.24 per share, in 2018.

Worldwide net sales and revenues increased 5 percent in both the fourth quarter and full year of 2019 to $9.896 billion and $39.258 billion, for the respective periods. Net sales of the equipment operations were $8.703 billion for the quarter and $34.886 billion for the year, compared with respective totals of $8.343 billion and $33.351 billion in 2018.

John Deere’s performance reflected continued uncertainties in the agricultural sector, said John C. May, chief executive officer. Lingering trade tensions coupled with a year of difficult growing and harvesting conditions have caused many farmers to become cautious about making major investments in new equipment. Additionally, financial services results have come under pressure due to operating-lease losses. At the same time, general economic conditions have remained favorable. This has supported demand for smaller equipment and led to solid results for Deere’s construction and forestry business, which had a record year for sales and operating profit.

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