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Why Heavy Equipment Maker Deere Shares Are Taking A Hit Today

Deere reported Q1 fiscal 2024 net sales decline of 4% YoY to $12.185B, beating estimates, with EPS of $6.23. Production & Precision Ag and Small Ag & Turf sales fell, while Construction & Forestry revenue was flat. Net income for Financial services grew 12%. 2024 guidance lowered, but demand for products and solutions remains strong.

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