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The year-over-year increase was primarily due to favorable price realization and improved shipment volume
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2023 Q2
20 May 23
our ending inventory forecast right now still shows us running really, really lean at the end of the year
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2023 Q2
20 May 23
The large ag inventory build seen recently is really due to a return to normal seasonality.
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2023 Q2
20 May 23
Inventory for new and used equipment remains, below target levels and the fleet has continued to age out for tractors, even if it's down a bit for combines.
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2023 Q2
20 May 23
we do expect to see higher-end season inventory this year
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2023 Q2
20 May 23
demand for large equipment remains stable
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2023 Q2
20 May 23
the desire for more technology, the ability to do jobs in an easier, more simple manner is desirable
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2023 Q2
20 May 23
Contractors for the first time in their careers continue are turning down jobs because of lack of labor.
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2023 Q2
20 May 23
on North America, we're taking orders into the first quarter of '24
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2023 Q2
20 May 23
as it relates to inventory, our comments on the call have all been Deere specific inventory
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2023 Q2
20 May 23
we're one of the first manufacturers to have early order programs extending into 2024
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2023 Q2
20 May 23
production costs are also moderating
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2023 Q2
20 May 23
that implies that three in 4Q we'll see price realization down significantly
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2023 Q2
20 May 23
Our full year guide is 15%.
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2023 Q2
20 May 23
production Precision Ag, for example, we achieved 22% in the first quarter, 20% in the second quarter
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2023 Q2
20 May 23
We would expect price realization to moderate as we progress through 2023. And that really reflects some of the midyear pricing actions that we took in 2022.
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2023 Q2
20 May 23
the other two-thirds are sold into the farm economy
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2023 Q2
20 May 23
regarding small ag and turf
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2023 Q2
20 May 23
About one-third of that business goes to really the consumer-oriented products, things like our riding lawn equipment as well as compact utility tractors.
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2023 Q2
20 May 23
we're continuing to see strong used values
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2023 Q2
20 May 23