Deere Hits All-Time High After Strong Q3 Results and Raised Outlook

According to CNBC, Deere & Co. shares closed at an all-time high after the company reported fiscal third-quarter results on Aug. 20 and raised its full-year outlook. Net sales and revenue rose 5% to $12.6 billion, net income increased to $1.4 billion, or $5.10 per share, and equipment operations operating profit climbed 18% to $1.8 billion. Deere lifted its full-year net income guidance to $4.75 billion to $5.00 billion and increased its equipment operations cash flow forecast to $5 billion to $5.5 billion. The article said factory-installed sprayer orders using Deere's See & Spray technology are doubling year over year, about one-third of North American sprayers on order for 2027 include it, and customers using it are cutting herbicide costs by more than 50%. It also said coverage expanded from 1 million acres in year one to 5 million acres globally last year.