Deere & Company

Deere & Company
source
Name	Deere & Company
Founded	0 1837
Founder	John Deere
Location city	Moline, Illinois
Location country	United States
Key people	John C. May (Chairman & CEO)
Industry	Heavy equipment
Products	Agricultural machinery, Construction equipment, Diesel engines, Lawn care equipment
Revenue	▲ US$61.25 billion (2023)
Num employees	~82,000 (2023)

Deere & Company is a global leader in the manufacturing of agricultural machinery, construction equipment, diesel engines, and lawn care equipment. Founded in 1837 by John Deere, the company is headquartered in Moline, Illinois, and is widely recognized by its leaping deer logo and distinctive John Deere green and yellow color scheme. Its products are integral to modern agriculture and infrastructure development worldwide, supported by a comprehensive network of dealers and a growing focus on precision agriculture technologies.

History

The company's origins trace to 1837 when John Deere, a Vermont blacksmith, forged a highly polished steel plow in Grand Detour, Illinois, which proved superior to the cast iron plows commonly used in the Midwest's tough prairie soils. This innovation led to the founding of a manufacturing business, which was incorporated as Deere & Company in 1868. Under the leadership of Charles Deere, the company expanded its product line and established a robust distribution network. A significant milestone was the 1918 acquisition of the Waterloo Gasoline Engine Company, which brought the iconic Waterloo Boy tractor into its portfolio, firmly establishing its presence in the tractor market. Throughout the 20th century, the company grew through strategic expansion, weathering challenges like the Great Depression and becoming a multinational corporation with manufacturing facilities and markets across the globe.

Products and services

The company's primary offerings are divided between its agricultural and turf segment and its construction and forestry segment. Its agricultural lineup is extensive, including high-horsepower tractors, combine harvesters, cotton pickers, planters, and sprayers. For the construction industry, it manufactures excavators, bulldozers, backhoe loaders, and motor graders under the John Deere brand. It also produces a range of commercial and residential lawn care equipment, such as riding lawn mowers and utility vehicles. Complementing its machinery, the company provides financial services through John Deere Capital Corporation, offering retail notes, wholesale financing, and leases to customers and dealers.

Operations and divisions

The company operates through four primary reportable segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. Its manufacturing footprint is global, with major production facilities in the United States (including Iowa, Illinois, and Wisconsin), Brazil, Germany, India, and Mexico. The John Deere World Headquarters in Moline, Illinois serves as its central administrative hub. Key operational subsidiaries and brands include John Deere Financial, the forestry equipment manufacturer Timberjack, and the German harvester producer John Deere Werke Mannheim.

Financial performance

As a public company, its stock is traded on the New York Stock Exchange under the ticker symbol DE. It is a component of the S&P 500 and Dow Jones Industrial Average. For the 2023 fiscal year, the company reported record net income of over $10 billion on net sales and revenues exceeding $61 billion. Its financial services segment contributes significantly to profitability through interest and lease income. The company has a long history of paying dividends to shareholders and has consistently been ranked among the Fortune 500 largest United States corporations.

Corporate affairs and leadership

The company is governed by a Board of directors and led by John C. May, who serves as Chairman and Chief Executive Officer. Its global workforce exceeds 80,000 employees. The John Deere Foundation is the primary vehicle for its philanthropic efforts, focusing on initiatives in community development, education, and global hunger. The company maintains a strong brand identity and is a major sponsor in sports marketing, notably with its title sponsorship of the PGA Tour's John Deere Classic golf tournament held in Silvis, Illinois.

Technology and innovation

A central strategic focus is on precision agriculture and digital farming solutions. Its John Deere Operations Center is a cloud-based platform that enables data management for farm operations. The company invests heavily in automation and autonomy, developing features like AutoTrac GPS guidance and See & Spray technology for targeted weed control. It has formed strategic partnerships with technology firms, including a notable collaboration with NASA's Conservation and Sustainability program, and engages in research and development at facilities like the John Deere Intelligent Solutions Group in Urbandale, Iowa.

Category:Companies based in Illinois Category:Manufacturing companies of the United States Category:Agricultural machinery manufacturers