(AOF) – Specialized in the manufacture of agricultural equipment, the company Deere & Company declared a net profit of 2.978 billion dollars for the third quarter ended July 30, 2023, or 10.20 dollars per share, against a net profit of $1.884 billion, or $6.16 per share, for the three months ended July 31, 2022. For the first nine months of the year, its attributable net income was $7.797 billion, or $26.35 dollars per share, compared to $4.885 billion, or $15.88 per share, for the same period a year earlier.
Global net sales and revenue increased 12%, to $15.8 billion, for the third quarter of 2023 and 24%, to $45.8 billion, year-over-year.
Net income attributable to Deere & Company for fiscal 2023 is expected to be in the range of $9.75 billion to $10 billion.
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Rail investment plan
The French railway industry ranks second in Europe and third worldwide. This industry has a trade surplus, which generates more than 100,000 jobs in France. The announcement of the future plan for French rail transport provides in particular for the regeneration and modernization of the network, the average age of which is 30 years in our territory. This age is much higher than in countries like Germany (17) and Switzerland (15). An annual investment rising from 2.8 billion euros to nearly 4 billion euros should enable the entire network to be maintained in good condition.