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DEERE & COMPANY

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Deere mpany : John Deere Introduces Preventative Maintenance Program, John Deere Protect(TM)

04/06/2021 | 01:15pm EDT

The John Deere Protect(TM) maintenance program is offered every 500-hour interval.

- John Deere introduces its construction equipment preventative maintenance program, John Deere Protect(TM). Through this program, routine maintenance is performed at every 500-hour interval by an experienced John Deere dealer.

- The program decreases long-term ownership costs and reduces customer risk, adding a layer of security for customers. Additionally, the program is transferable, meaning it stays with the equipment even after being sold.

- The program will roll out for John Deere construction equipment in the United States and Canada starting in May 2021.

MOLINE, IL (April 6, 2021) - To better support customers through improved aftermarket and support capabilities, John Deere announces its preventative maintenance program for construction equipment, John Deere Protect(TM). With John Deere Protect, required maintenance is performed at every 500-hour interval by an experienced dealer service technician. As a result, customer risk and long-term ownership costs decrease, and machine uptime increases, positively impacting customers' bottom lines.

"Our customers are balancing numerous things every day, from managing operators to looking ahead at projections to ensure the long-term success of their business. Through the John Deere Protect program, we're taking away a worry - machine uptime - and putting it into the hands of our trusted and experienced dealer technicians," said Mark Wagner, manager of service business for the John Deere Construction and Forestry Service Business. "The John Deere Protect program adds a layer of certainty and predictability with machine costs and downtime, giving owners the room to focus on other aspects of their business."

First introduced on the John Deere Ag business, John Deere is extending the program to the construction lineup. With John Deere Protect, the machine owner will see a lower cost of machine ownership and operation over the equipment life cycle. Additionally, John Deere Protect is transferable, meaning that if the customer sells a piece of equipment, the program stays with that machine for its lifetime.

"We started piloting this program in early 2021 with a select group of dealers, and the feedback we have received so far has been extremely positive. A main benefit of the program is that the task of maintaining machines is put into the hands of our dealers. As a result, our customers are more confident because they know their equipment is being watched by an expert. When combined with the power of JDLink(TM) telematics, the dealer can monitor machine status and proactively perform scheduled service, eliminating missed service internals and reducing unexpected downtime," said Wagner.

The John Deere Protect program will be available for select John Deere construction equipment in the United States and Canada starting in May 2021. To learn more about John Deere Protect as well as the full line of John Deere construction equipment products and solutions, visit http://www.johndeere.com/ or contact a local dealer.

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(C) 2021 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2021 38 445 M - -
Net income 2021 5 063 M - -
Net Debt 2021 24 305 M - -
P/E ratio 2021 23,8x
Yield 2021 0,87%
Capitalization 120 B 120 B -
EV / Sales 2021 3,76x
EV / Sales 2022 3,37x
Nbr of Employees 69 634
Free-Float 58,4%
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Number of Analysts 24
Average target price 392,95 $
Last Close Price 384,00 $
Spread / Highest target 18,5%
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Managers and Directors
NameTitle
John C. May Chairman, President, CEO & COO
Ryan D. Campbell Chief Financial Officer & Senior Vice President
Rajesh Kalathur Chief Information Officer
Jahmy J. Hindman Chief Technology Officer
Marc A. Howze Chief Administrative Officer & Senior VP
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