Deere: net income down 42% in Q3

(CercleFinance.com) - John Deere reports a 42% drop in net income to $1.
73bn for Q3 (ended July), or EPS of $6.29, on revenues that are down 17% to less than $13.2bn. NB: pmt +2.2%.

In response to weak market conditions, we have taken steps to reduce costs and strategically align our production with customer needs, management of the agricultural and construction machinery manufacturer says.

Despite the difficult environment, the Moline (Illinois)-based group confirms that it expects net income of around $7bn for FY 2023-24, after lowering its forecast three months ago.


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