This morning, the company reported profits of $5.96 billion for fiscal year 2021 (ending 10/31/2021). That's compared with $2.75 billion in 2020.
On a per share basis, that's $18.99 compared to $8.69 per share for 2020.
Worldwide sales increased 24% to $44 billion for the full year. Sales totaled $39.7 billion for the year, compared with $31.3 billion in 2020.
Chair and CEO John May says, "Deere’s strong fourth-quarter and full-year performance was delivered by our dedicated employees, dealers, and suppliers throughout the world, who have helped safely maintain our operations and serve customers.
“Our results reflect strong end-market demand and our ability to continue serving customers while managing supply-chain issues and conducting contract negotiations with our largest union."
"Last week’s ratification of a 6-year agreement with the UAW brings our highly skilled employees back to work building the finest products in our industries. The agreement shows our ongoing commitment to delivering best-in-class wages and benefits.”
Deere now forecasts income for FY 2022 will be $6.5 to $7 billion.
