Moline, Illinois-based Deere & Company reported net income of $1.283 billion for the fiscal fourth quarter of 2021, compared with net income of $757 million for the quarter ending Nov. 1, 2020.
For fiscal year 2021, net income attributable to Deere & Company was $5.963 billion, or $18.99 per share, compared with $2.751 billion, or $8.69 per share, in fiscal 2020.
Worldwide net sales and revenues increased 16% to $11.327 billion for the fiscal 2021 4Q and rose 24% to $44.024 billion for the full year.
Equipment operations net sales were $10.276 billion for the quarter and $39.737 billion for the year, compared with $8.659 billion and $31.272 billion, respectively, in 2020.
“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,” said John C. May, chairman and CEO. “Our results reflect strong endmarket 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.”