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Deere Fourth-Quarter Sales Drop Slightly

Deere & Co. sales in the fourth quarter of fiscal year 2023 fell year-over-year, though the earnings per share did increase.

The company says in a report that revenue in the three months ending on September 30 was reported at $15.41 billion, one percent lower than the same quarter last year. The equipment manufacturer also says earnings rose to $8.26 a share from $7.44 a year earlier. Production and precision agriculture sales in the fourth quarter fell six percent to $6.97 billion. Small agriculture and turf revenue was down 13 percent year-over-year to $3.09 billion, and construction and forestry sales rose 11 percent to $3.74 billion.

“Production and precision agriculture sales decreased in the fourth quarter due to lower shipment volumes partially offset by price realization,” Deere says. Full-year sales for Deere jumped 16 percent to $61.25 billion, while earnings came in at $34.63 a share versus $23.28 a year earlier.

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