Deere & Co (NYSE: DE) shares are trading lower by around 5% after it reported Q4 FY23 results.
Net sales and revenue fell 1% Y/Y to $15.41 billion, beating the consensus of $13.69 billion.
Production & Precision Agriculture revenue declined 6% Y/Y to $6.97 billion, and Small Agriculture & Turf revenue decreased by 13% Y/Y to $3.09 billion, both due to lower shipment volumes.
Meanwhile, Construction & Forestry revenue improved by 11% Y/Y to $3.74 billion due to price realization and increased shipment volumes.
Operating profit grew 2% Y/Y to $3.03 billion, led ...