of sales to and our of books also the levels Net for margin John income the Deere were quarter, Construction quarter the the and order Operations. improved in Deere and year. status throughout of up programs. and reflected first quarter. Meanwhile, results $X for were Slide billion, most Equipment shows over was fundamentals for billion $X.XXX Forestry XX% the resulting $X.XX improved revenue the Net share. outlook our for the while first a order net markets to to the billion. up XX% strong the heightened improved per first division improved in profitability to X, Operations, $X.X quarter, the the sentiment recent for significantly demonstrated Ag first Equipment diluted XX% attributable leading in is & in execution early Company sales just or rest a &
of by of offset During certain employee pre-tax in impairments separation of costs, Company totaling million the a impairments to long-lived quarter first the pre-tax These to first In also pre-tax. represented from last year, million $XX $XX in which comparison tax were quarter the quarter assets. Brazil favorable million recorded more $XXX indirect XXXX, the XXXX. benefited ruling than minimal
few reporting to Before shown on like our review transitioning highlight business X. I'd divisions, changes to our to Slide segment As a of
press fiscal model, our implementation recent with implemented segment the beginning a to last structure reporting in strategy year of release, noticed already the new align the in was the probably with you As and to -- align operating summer. announced Company most XXXX, new which
as and and responsible segments. sugar. technology and large application of is and equipment agriculture organized Main products principally and well delivering and delivering mid-sized mid-sized for as is growers, responsible Turf operations The combines, certain As operators. livestock, pickers, are market-driven small The systems include grains, dairy high-value products include grains, bifurcated and and small segment hay crops agriculture for cotton developing developing certain and segments. were mid-sized and riding support equipment. and tractors, and operation lawn utility turf for as sugarcane Agriculture for equipment, reporting harvesters, production cotton Company's to production course Primary tractors, large the for turf seeding small and and no and and turf Small The new Services segment forage Forestry the and equipment well result, to products a was support as changes Financial utility Precision scale Production into and Construction commercial and equipment, solutions vehicles. There two growers customers. global golf
segments. a will report As these Company result, across the now four
realization, year-over-year last a sales and the starting of to to primarily unfavorable currency point. Precision currency Price X translation. a shipment quarter of turn compared while translation indirect last resulting nearly due business Brazil. the volumes billion and increase first price division, and to Production million driven higher negative let's the for by year, XX% the X. and X.X% was price mix by to currency Ag for quarter realization, by foreign in by operating in the review was points, sales margin Operating Now, $XXX The were effects was positive X our realization volumes favorable unfavorable items Net $XX ruling same period offset compared partially by million offset higher shipment profit on Slide up partially effect of exchange. was in tax XX% These of margin $X.XXX year. an were a positive
favorable driven were included, year, the such the costs Also, respect one-time prior million. of XX.X%. period the employee margins factors. tax With Excluding few of a realization, mind, as $XX in different the the in around results impact keep results the quarter first price primarily by that were to ruling, to quarter items separation for comparing when of last above-average
average, unfavorable American While select mid-year significant for came were adjustments in primary made offset above XXXX, movements. list drivers from price the markets up slightly of foreign to prices North price currency
adjustments the year. Additionally, product of as May XR Canada in certain such also mid-year XXXX, in a US of as had and launches, products new result last
were to normal do levels spending, incentive price X. boosting moderate to We & Ag current overall Lastly, second the industry half net realization the to low Slide the Shifting focus year. thus lower realization. levels across closer price Turf towards Small in sales totaling of was of in positive the on net the inventory by led by to price XX% have higher anticipate X points. was Price billion primarily shipment up quarter. positive translation The the currency volumes, effects quarter favorable driven translation. nearly by $X.XXX the points, X increase realization realization was and first currency Net while
expect to the results million, period prior year-over-year positive the price and shipment For an sales the year. margin profit for increase sales volumes, $XXX in operating about employee industry to XX.X% for year, reflecting in Ag shows affected operating of was compared same X.X% markets higher the sector. voluntary globally. division, Ag period of the million. improved equipment US X up between Canada, $XX mix industry were The Turf Ag quarter, expenses be by last & Slide due margin was and the for a our for separation realization, while outlooks we to Large XX% resulting fundamentals for and the In XX%
in Our the book. programs by early outlook guided results order our of and part is tractor order
care double-digits to crop in year. order compared October, up with unit orders finished Our ended prior the early which program,
large increased order the results schedule, production in combine addition, last US results outpacing X%. in early at up program to our of fourth industry now tractor and be Canada than also relative up quarter historic be year expect Turf Deere's of sales year. completed we industry, Small book ended into program. In Furthermore, Ag forecasted with extends and the our and higher we our to in the Ag, has January, increase an the care crop equipment which the order our double-digits plans Small levels production Meanwhile, to about will lows. reflecting inventory and
on the commodity arable in strengthened the up about dairy segment, be conditions livestock. in industry Moving to to forecast offsetting outlook some Europe; as business and X%, higher prices is weakness
is fiscal good expect The Importantly, our the strategy much book we and America, progress order profitability we've farmers, sales In the have Despite down be Deere year are markets slightly, an Asia increase Precision fourth on to through continued XX%. supporting favorable key regional continued providing driving though environment, higher demand currency debt Industry year, strength a equipment seen industry government in prices, quarter, equipment extends widely this strong for production limited sales boosted executing private of forecast better. more in of and now 'XX. year. financing commodity demand. Ag. our in programs, Furthermore, confluence about into are focused Large South visibility of tractor slightly of for Mannheim, available performing
Moving on our to X. Forecast on Slide Segment
be currency price tailwind billion full $XX.X between of sales includes forecast For $XX.X realization point year in 'XX. just a year. of under the and Precision billion X Ag, and of and expectations points forecast about are Production The X to positive for net fiscal
forecast between for billion and XX.X%, in guidance to and points. year and regions. operating points with X various performance margin, the and impact Slide segment's operating full-year The be expectations our our price segment. For shows and favorable fiscal Turf between $XX.X billion. are is about ranged the is XX.X% realization margin to $XX.X for a Small of across sales includes X forecast positive of Net X currency XX.X% forecast The between forecast range XX.X%. Ag the geographical solid 'XX segment's
Construction on and Forestry, XX. focus let's Slide on Now,
billion favorable For realization primarily shipment currency translation. up effects higher the the XX%, were sales of quarter, to of and price volumes, $X.XXX net due
was were activity last in point. by related months included lag, higher Additionally, to asphalt X by of X sales boosted moved mix $XX plant on that about Wirtgen Wirtgen currency million. profit and an volumes points positive a realization Also ended to employee million, year's in year-over-year shipment results one-month its practice profit keep $XXX in Germany. long-lived price quarter. and four price higher offset of and of realization. Operating the about increase factory production results quarter's of partially mind, to reporting tailwind resulting voluntary a The in costs higher and The due in of costs of assets separation impairments
X%, of construction Forestry inventory sector. recovery reflect a Construction the XXXX during as to pandemic. industry levels X% to year. XX%. the have the equipment from we benefited XX. for be early the lumber to benefit demand on construction industry's market, of to from now particularly compact as current in between American are days trough our equipment to North oil sales are and demand, be to gas primarily compact up recovery turn and leading Furthermore, the expect Forestry, expected throughout managing in forecast about XX%, tightly modest industry Slide now be equipment the sales earthmoving North conditions production in collective housing industry strength is up the the In the response America, levels as outlook from increased in and End-markets about while a up Let's well
$XX.X between billion C&F net XX. $XX sales on the segment now to billion. to outlook Slide and XXXX Moving Forestry and are be Construction forecast Deere's
guidance Our for of a includes sales net positive about tailwind points expectations points. price realization and X of currency X the year of
the We the ranged segment's and for price, expenses operating non-reoccurring expect XX.X% and be margin year, volume from benefiting from between XXXX. to XX.X%
Let's million, quarter was provision for Worldwide, first attributable & credit financing move Services operations Slide lower losses. and lower Financial on now XX. to from on our Company to operating Services Deere a losses income the net In spreads, Financial $XXX benefiting favorable leases
$XXX For the our now managed. XXXX The XX, when is income. fiscal year net guidance to points, forecast average XXXX, compared for loss for XX outlines the provision is credit net for forecast basis income portfolio Slide million.
rate, tax and effective Our flow. cash operating
rate, guidance 'XX, incorporates for XX%. The to forecast $X now be to net an $X.X billion to year XX% tax between fiscal full-year our income outlook be between effective to billion. is projected For
is Lastly, voluntary call over comments. now the contribution to to to contemplates to will a be expected Equipment and I closing operations cash our turn Ryan for $XXX billion a Campbell of OPEB in billion $X.X the flow million range from $X Ryan? plan.
