“Deere’s strong performance for both the fourth quarter and full year is a tribute to our dedicated team of employees, dealers, and suppliers throughout the world,” said John C. May, chairman and chief executive officer.

Deere & Company reported net income of $1.884 billion for the third quarter ended July 31, 2022, compared with net income of $1.667 billion for the quarter ended August 1, 2021.

Deere's production and precision agriculture sales increased for the quarter due to price realization and higher shipment volumes. Operating profit rose primarily due to price realization and higher shipment volumes / sales mix.