We had the pleasure of hosting an investor call this afternoon with John Deere’s Brent Norwood. Things are going well for the company, so we had a lot to talk about, and Brent did a tremendous job of giving thoughtful responses to investor’s questions.
They’ve made structural changes over the last few years that significantly improved their business. Their factories are running exceptionally well – “Precise Execution” is a good way to describe it. Supply chain issues have improved, and they’ve taken steps to mitigate future concerns. Order books for 2023 have been full for some time and they’ve been taking orders for 2024. Good planning and focus resulted in lower-than-expected production costs – they’re running more efficiently.
I asked Brent why investors should buy John Deere and he gave me 2 good reasons:
1. The industry is ripe with opportunity. Their business is a “value creating force” for their customers – they can produce more product, more efficiently.
2. John Deere is uniquely positioned in this space.
Being uniquely positioned in a space that is ripe with opportunity sounds like a good combination. He also added “Don’t sleep on the progress made in 2023”, meaning that they’ve done some hard work that will continue to pay dividends.
“Thank You” to Brent, to the entire John Deere team, and to all of the investors that joined us today for your support. We’re doing great things socially through the success of our business, and now you’re a part of it!
Take a look at John Deere here.