(CercleFinance.com) – On the occasion of the publication of its quarterly reports, John Deere announces that it is lowering its target range for net profit for the 2023-24 financial year, to between 7.5 and 7.75 billion dollars, to compare to between 7.75 and 8.25 billion three months ago.
‘Going forward, we expect fleet replenishment to moderate as agricultural fundamentals normalize from the record levels of 2022 and 2023,’ explains CEO John May.
For its first financial quarter, the manufacturer of agricultural and construction machinery posted net profit down 11% to $1.75 billion, or EPS of $6.23, for revenue down 4%. less than 12.2 billion.
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