According to a Sept. 11 article from the Wall Street Journal, John Deere CEO John May said the company will generate 10% of its annual income from software fees by 2030.
Along with announcing its first quarter earnings on Feb. 18, Deere & Co. announced new goals it calls the Leap Ambitions. The goals are linked to the company’s Smart Industrial Strategy and operating model Deere first introduced in 2020.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.