Financial PerformanceRevenue was $12.2B, down 21% QoQ, and 4% YoY with operating margin declined to 22.1%.
Guidance And EarningsDE cut its 2024 net income guidance from $7.75-8.25bn to $7.5-7.75bn, indicating a downward revision which is somewhat rare for the company early in the year.
Market And Economic ConditionsFarm income contraction on falling commodity prices and higher rates, combined with Brazilian and European headwinds, are driving elevated macro uncertainty.