Deere & Co. witnesses a sharp share decline, hitting its lowest levels in months, impacting investors.

Share Plunge

#1

Bleak full-year earnings outlook for fiscal 2024, projecting a significant drop in business segment sales.

Earnings Foreca

#2

Sales are anticipated to fall more than the industry average, influencing the overall earnings projection.

Sales Decline

#3

Revised fiscal 2024 net income forecast at $7.75 billion to $8.25 billion, below expectations.

Net Income Update

#4

A departure from the earlier outlook, with a return to mid-cycle levels affecting earnings.

Outlook Shift

#5

Previous optimism regarding government spending on megaprojects no longer expected to benefit 2024 and 2025.

Government Spending Impact

#6

A 6.8% premarket stock drop puts Deere & Co. on track for the lowest levels since June.

Stock Decline

#7

Q4 net income increases to $2.37 billion, surpassing expectations, with an $8.26 earnings per share.

Robust Q4 Net Income

#8

Despite a 0.8% sales dip, revenues reach $15.41 billion, exceeding the FactSet consensus.

Sales Performance

#9

Varying segment results—Production and precision ag sales exceed forecasts, small ag and turf sales miss, while construction and forestry sales surpass expectations.

Segment Result

#10

Anticipated 10% to 15% decline in fiscal 2024 for production and precision ag sales, and a 10% drop for construction and forestry.

Future Sales Projection

#11

Deere's sales expectations differ from overall industry projections, shaping the company's unique outlook.

Industry Comparison

#12