Deere Lowers 2024 Outlook, Now Expects Net Income Of ~$7B (Prior $7.50B - $7.75B)
Portfolio Pulse from Benzinga Newsdesk
Deere & Company has lowered its net income forecast for fiscal 2024 to approximately $7 billion, down from the previous range of $7.50 billion to $7.75 billion. The company is adjusting its production and inventory levels to adapt to changing demand while continuing to invest in innovative technologies and solutions.
May 16, 2024 | 10:12 am
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Deere & Company has revised its net income forecast for fiscal 2024 to approximately $7 billion, down from the previous estimate of $7.50 billion to $7.75 billion. The company is managing production and inventory levels to adapt to demand changes while continuing to invest in innovative technologies.
The downward revision of the net income forecast is likely to negatively impact investor sentiment and the stock price in the short term. However, the company's proactive management of production and inventory levels, along with continued investment in innovative technologies, may mitigate some of the negative impact.
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