Deere & Co. (NYSE: DE) reported Q1 EPS of $6.23, $0.98 better than the analyst estimate of $5.25. Revenue for the quarter came in at $12.19 billion versus the consensus estimate of $10.37 billion.

Net income attributable to Deere & Company for fiscal 2024 is forecasted to be in a range of $7.50 billion to $7.75 billion.

“Moving forward, we expect fleet replenishment to moderate as agricultural fundamentals normalize from record levels in 2022 and 2023,” May said. “Regardless of where we are in the cycle, demand is accelerating for products and solutions that empower our customers to do more with less, and we are uniquely positioned to deliver unparalleled value to our customers.”

For earnings history and earnings-related data on Deere & Co. (DE) click here.