Brent Norwood | Director, Investor Relations |
Rachel Bach | Manager, Investor Communications |
Josh Jepsen | Chief Financial Officer |
Seth Weber | Wells Fargo Securities |
Dillon Cumming | Morgan Stanley |
John Joyner | BMO Capital Markets |
Tim Thein | Citigroup |
Stephen Volkmann | Jefferies |
David Raso | Evercore ISI |
Michael Feniger | Bank of America |
Jamie Cook | Credit Suisse |
Mircea Dobre | Baird |
Tami Zakaria | JPMorgan |
Jerry Revich | Goldman Sachs |
Kristen Owen | Oppenheimer |
Mike Shlisky | D.A. Davidson |
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This call includes forward-looking comments concerning the company’s plans and projections for the future that are subject to important risks and uncertainties. Additional information concerning factors that could cause actual results to differ materially is contained in the company’s most recent Form 8-K and periodic reports filed with the Securities and Exchange Commission. This call also may include financial measures that are not in conformance with accounting principles generally accepted in the United States of America | GAAP. Additional information concerning these measures - including reconciliations to comparable GAAP measures is included in the release and posted on our website at johndeere.com/earnings under Quarterly Earnings and Events. |
I will now turn the call over to Rachel Bach. |
Thanks, Brent and good morning. John Deere completed the first quarter with solid execution. Financial results for the quarter included 20% margin for the equipment operations.
While still far from normal levels, fewer supply chain disruptions enabled our factories to operate at high levels of production. Strong ag fundamentals remain – our order book still in allocation are full well into the fourth quarter and in some cases, full through the balance of the year.