Company Research Report: John Deere (Deere & Company)
Company Overview
- Name: John Deere (Deere & Company)
- Mission: John Deere is committed to innovating on behalf of humanity by helping produce food, fiber, fuel, and infrastructure. They focus on supporting essential work and promoting sustainable solutions.
- Founded: 1837
- Founder: John Deere
- Key People:
- Josh Jepsen: Senior Vice President & Chief Financial Officer
- Kellye Walker: Senior Vice President, Chief Legal Officer and Worldwide Public Affairs
- Headquarters: Moline, Illinois, USA
- Number of Employees: Approximately 82,000
- Revenue: $61.25 billion in net sales and revenue (recently reported)
- What is the Company Known For: John Deere is a world leader in agriculture, forestry, and road-building equipment, known for its construction machinery, agricultural machinery, and intelligent precision farming technology.
Products
John Deere offers a comprehensive range of products across different segments including:
- Agriculture:
- Tractors & Loaders
- Harvesting Equipment
- Planting Equipment
- Precision Ag Technology
- Sprayers
- Construction:
- Excavators
- Backhoes
- Dozers
- Skid Steers
- Wheel Loaders
- Forestry:
- Feller Bunchers
- Harvesters
- Skidders
- Forwarders
- Lawn and Garden:
- Mowers
- Lawn Tractors
- Utility Vehicles
Product Details
- Precision Ag Technology:
- Description: Enhances farm operations through improved machine management, data analysis, and application accuracy.
- Key Features:
- JDLink™ connectivity
- Remote diagnostics
- Real-time data monitoring and management via John Deere Operations Center™
- Gator™ Utility Vehicles:
- Description: A range of utility vehicles offering versatility for different applications.
- Key Features:
- Robust and durable design
- Adaptable with multiple attachment options
Recent Developments
- Expansion:
- John Deere Reman announced a $13.5 million expansion of its Reman Core Center facility in Strafford, Missouri (October 14, 2024).
- Financial Performance:
- Reported third-quarter net income of $1.734 billion, showing a decrease compared to the previous year's $2.978 billion.
- Leadership Update:
- Kellye Walker joined as Senior Vice President, Chief Legal Officer, and Worldwide Public Affairs in April 2024.
- Strategic Alliance:
- Entered a strategic alliance with Banco Bradesco to expand operations in the Brazilian market (August 8, 2024).
- Awards and Recognition:
- Ranked #1 in Construction & Farm Machinery by Fortune 2024
- Received 2024 CES Innovation Awards for John Deere Operations Center™ Sustainability Tools
- Sustainability Initiatives:
- Significant focus on sustainable product development and operational sustainability through its LEAP Ambitions.
Conclusion
John Deere maintains a dominant position in the agricultural and construction machinery market. The company continues to innovate and expand its influence across the globe through strategic partnerships, advancements in technology, and a commitment to sustainability. With a strong heritage and a forward-looking strategy, John Deere aims to enhance operational efficiencies and contribute to global sustainability efforts.
