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Deere Reports Record 1Q Earnings
Feb 17, 2014
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Deere & Company's Agriculture & Turf business segment—which includes residential and professional lawn care equipment—had net sales of $5,596 million in the first quarter of its current fiscal year, compared to $5,491 million in the first quarter of the previous fiscal year.

The first quarter of the company's fiscal year 2014 ended January 31, 2014.

Operating profit for Agriculture & Turf was $797 million in the first quarter, up from $766 million in the first quarter of the previous FY.

Deere & Company as a whole reported first quarter net income of $681.1 million, up from $649.7 million in the first quarter of the previous year.

Worldwide net sales and revenues in the first quarter were up 3%, to $7.654 billion, from $7.421 billion in the previous year's first quarter. Net sales of the company's equipment operations were $6.949 billion, up from $6.793 billion.

"With another record quarter, John Deere has started 2014 on a strong note," said Chairman and CEO Samuel R. Allen. He credited the company's operating and marketing plans for the strong results. "In addition, we are seeing further benefit from efforts to hold the line on costs."

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