Deere Sees Earnings Growth in 2022
November 24 2021 - 7:44AM
Dow Jones News
By Matt Grossman
Deere & Co. forecast higher earnings in the coming fiscal
year, citing increased crop prices and economic growth as
fundamentals that will drive demand.
Deere said Wednesday it expects its net income in the 2022
fiscal year to be $6.5 billion to $7 billion. Its 2021 net income
was $5.96 billion.
Analysts polled by FactSet had been forecasting 2022 net income
of $6.77 billion.
Chairman and Chief Executive John C. May said supply-chain
issues will continue to affect the company in the year to come.
"We anticipate supply-chain pressures will continue to pose
challenges in our industries," Mr. May said. "We are working
closely with our suppliers to address these issue."
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
November 24, 2021 07:29 ET (12:29 GMT)
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