M&A Strategy and Financial Overview
Q3 2023 Results
DEERE
3186
Total Revenue
Net Income
Adjusted EBITDA**
Net Rental Capital Expenditures
(Year-to-Date)
Net Cash Provided by Operating
Activities
(Year-to-Date)
$3.765 billion (+23.4% Y/Y as reported;
14.9% on a pro form a basis*)
$703 million (18.7% margin; -120 bps
Y/Y as reported; 20 bps on a pro forma
basis*)
$1.850 billion (49.1% margin; -80 bps
Y/Y as reported; 20 bps on a pro formal
basis*)
$1.942 billion, after gross purchases of
$3.078 billion
$3.290 billion
Free Cash Flow** (Year-to-Date)
$1.163 billion***
* Pro forma includes the standalone, pre-acquisition results of Ahern. See the tables provided elsewhere in this presentation for reconciliations of pro forma margins to the most comparable GAAP measures.
** Adjusted EBITDA and Free Cash Flow are non-GAAP measures. See the tables provided elsewhere in this presentation for reconciliations to the most comparable GAAP measures.
*** Excludes aggregate merger and restructuring related payments of $6 million.
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