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Deere | 10-Q: Q3 2024 Earnings Report

Deere | 10-Q: Q3 2024 Earnings Report

迪爾股份 | 10-Q：2024財年三季報
美股SEC公告 ·  2024/08/29 22:45

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Deere & Company reported third quarter fiscal 2024 net sales and revenues of $13.2 billion, down 17% year-over-year, while net income declined 42% to $1.73 billion or $6.29 per share. The decline was primarily driven by lower shipment volumes across all segments amid reduced demand in global agricultural and construction markets.Production & Precision Agriculture sales fell 25% to $5.1 billion due to lower shipments in major markets, while Small Agriculture & Turf revenue dropped 18% to $3.1 billion. Construction & Forestry segment sales decreased 13% to $3.2 billion on lower U.S. volumes. Financial Services revenue rose 21% to $1.5 billion but segment profit declined 29% due to higher credit loss provisions and less favorable financing spreads.The company implemented employee separation programs expected to generate $230 million in annual savings. Additionally, Deere announced plans to sell 50% of its Brazilian financial services unit Banco John Deere S.A. to Banco Bradesco S.A. Looking ahead, management expects continued production volume declines for the remainder of 2024 due to reduced demand and inventory management efforts.
Deere & Company reported third quarter fiscal 2024 net sales and revenues of $13.2 billion, down 17% year-over-year, while net income declined 42% to $1.73 billion or $6.29 per share. The decline was primarily driven by lower shipment volumes across all segments amid reduced demand in global agricultural and construction markets.Production & Precision Agriculture sales fell 25% to $5.1 billion due to lower shipments in major markets, while Small Agriculture & Turf revenue dropped 18% to $3.1 billion. Construction & Forestry segment sales decreased 13% to $3.2 billion on lower U.S. volumes. Financial Services revenue rose 21% to $1.5 billion but segment profit declined 29% due to higher credit loss provisions and less favorable financing spreads.The company implemented employee separation programs expected to generate $230 million in annual savings. Additionally, Deere announced plans to sell 50% of its Brazilian financial services unit Banco John Deere S.A. to Banco Bradesco S.A. Looking ahead, management expects continued production volume declines for the remainder of 2024 due to reduced demand and inventory management efforts.
迪爾股份公司報告了2024財政年度第三季度的淨銷售額和營業收入爲132億，較去年下降了17%，而凈利潤下降了42%，至17.3億或每股6.29美元。下降主要是由於全球農產品和施工市場需求減少，所有板塊的出貨量降低。生產與精準農業的銷售額下降了25%，至51億，原因是主要市場的出貨量減少，而小型農產品與草坪的營業收入下降了18%，至31億。施工與林業板塊的銷售額下降了13%，至32億，主要是因爲美國市場的出貨量降低。金融服務的營業收入上升了21%，達15億，但因信用損失準備金增加和融資利差不利，板塊利潤下降了29%。公司實施了預計將產生23000萬年節省的員工分離計劃。此外，迪爾宣佈計劃將其巴西金融服務單位Banco John Deere S.A.的50%股份出售給Banco Bradesco S.A.展望未來，管理層預計由於需求減少和庫存管理措施，2024年剩餘時間內生產量將持續下降。
迪爾股份公司報告了2024財政年度第三季度的淨銷售額和營業收入爲132億，較去年下降了17%，而凈利潤下降了42%，至17.3億或每股6.29美元。下降主要是由於全球農產品和施工市場需求減少，所有板塊的出貨量降低。生產與精準農業的銷售額下降了25%，至51億，原因是主要市場的出貨量減少，而小型農產品與草坪的營業收入下降了18%，至31億。施工與林業板塊的銷售額下降了13%，至32億，主要是因爲美國市場的出貨量降低。金融服務的營業收入上升了21%，達15億，但因信用損失準備金增加和融資利差不利，板塊利潤下降了29%。公司實施了預計將產生23000萬年節省的員工分離計劃。此外，迪爾宣佈計劃將其巴西金融服務單位Banco John Deere S.A.的50%股份出售給Banco Bradesco S.A.展望未來，管理層預計由於需求減少和庫存管理措施，2024年剩餘時間內生產量將持續下降。
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