John Deere more than doubled profits

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Deere & Company posted net income of $ 1.224 billion for the first quarter of fiscal year ended January 31, 2021. In the first quarter of the previous year (February 2, 2020) it amounted to US $ 517 million (EUR 427 million). This means that net profit has increased by 137%. Worldwide sales and revenue increased 19% to US $ 9.112 billion in the first quarter of 2021. Machine sales were $ 8.051 billion, compared to $ 6.530 billion for the same period last year.

“John Deere has made a very positive start to 2021,” said Deere & Company CEO and Chairman of the Board, John C. May. “Our results are characterized by very good performance in all business areas and positive changes in the agricultural and construction sectors. In addition, the change to the Smart Industrial Company has had a significant impact on business results and at the same time helps our customers to operate more profitably and sustainably ″.

For fiscal year 2021, Deere & Company has raised its net income forecast to $ 4.6 billion to $ 5.0 billion.

Red. MS

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John Deere doubled profits

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