Nicholas SmithSometimes, it is enough to release a "not too bad" report to have investors cheer. This is the case with Deere's Q3 earnings. Deere (NYSE:DE) was trading near its 52-week lows as the market was pricing in the bad news coming from its peers, mainly AGCO (AGCO) and CNH Industrial (CNH). After all, as I showed in detail in one of my past analyses on Deere, the business is cyclical, and it is strictly related to farmer net income and corn prices. Since corn is quickly going down, so is farmer ...

Deere & Company (DE) reported third-quarter fiscal 2024 (ended Jul 28) earnings of $6.29 per share, which beat the Zacks Consensus Estimate of $5.80. The bottom line, however, plunged 38% from the prior year quarter.This was mainly due to lower shipment volumes across all segments, reflecting weak demand. This was somewhat negated by the company’s pricing strategies and cost-saving measures.Net sales of equipment operations (comprising Agriculture, and Turf, Construction and Forestry) were $11.39 billion, d ...

For the quarter ended July 2024, Deere (DE) reported revenue of $11.39 billion, down 20.3% over the same period last year. EPS came in at $6.29, compared to $10.20 in the year-ago quarter.The reported revenue represents a surprise of +4.73% over the Zacks Consensus Estimate of $10.87 billion. With the consensus EPS estimate being $5.80, the EPS surprise was +8.45%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectati ...

Key TakeawaysDeere reported third-quarter earnings Thursday that fell year-over-year, but still managed to beat analyst estimates.CEO John May said the company faced "challenging conditions" and "significant headwinds" in the agriculture and construction industries.Deere said it expects sales to come in 10% to 25% lower for the full fiscal year. Deere & Company (DE) reported third-quarter earnings that beat expectations, despite a year-over-year decline as the company faced "significant headwinds" in the ag ...

Core Viewpoint - Deere's stock is currently undervalued, having declined 20% over the past year, despite the industrial sector's overall growth of 14% [1] Group 1: Business Overview - Deere operates a complex business model that includes various segments such as production and precision agriculture (45% of sales), construction and forestry (24%), and small agriculture and turf (23%) [2] - The majority of Deere's sales are business-to-business, indicating a focus on commercial clients rather than individual consumers [2] Group 2: Market Dynamics - Deere's performance is influenced by the capital spending cycle, where low interest rates and high commodity prices can lead to increased customer investments, while high borrowing costs can result in delayed purchases [3] - Input costs such as fuel and fertilizer also impact profitability, particularly in the construction segment, which is sensitive to real estate trends [3] Group 3: Innovation and Competitive Advantage - Deere has made strides to reduce business cyclicality through software solutions like the John Deere Operations Center, which enhances customer data management and operational efficiency [4] - Long-term competitive advantages include innovation, a robust global supply chain, and pricing power, which can help Deere differentiate itself from competitors [5] Group 4: Valuation and Shareholder Returns - Deere's current price-to-earnings (P/E) ratio stands at 10.4, indicating a low valuation relative to its earnings growth, with a potential P/E of around 20 even if earnings were to fall by 50% [6] - Over the past decade, Deere has increased its dividend by 145% while reducing its share count by over 20% through buybacks, resulting in a low payout ratio of 16% [6][7] Group 5: Investment Outlook - Deere is positioned as a strong long-term investment due to its industry leadership, capital efficiency, and commitment to shareholder returns through dividends and buybacks [8] - Despite potential short-term earnings declines, the stock presents a compelling buying opportunity for long-term investors [9]

Key TakeawaysDeere reported third-quarter earnings Thursday that fell year-over-year, but still managed to beat analyst estimates.CEO John May said the company faced "challenging conditions" and "significant headwinds" in the agriculture and construction industries.Deere said it expects sales to come in 10% to 25% lower for the full fiscal year. Deere & Company (DE) reported third-quarter earnings that beat expectations, despite a year-over-year decline as the company faced "significant headwinds" in the ag ...

Deere (DE) came out with quarterly earnings of $6.29 per share, beating the Zacks Consensus Estimate of $5.80 per share. This compares to earnings of $10.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.45%. A quarter ago, it was expected that this agricultural equipment manufacturer would post earnings of $7.86 per share when it actually produced earnings of $8.53, delivering a surprise of 8.52%.Over the last four quarter ...

Strong ag margins highlight continued value delivery amid market fluctuations.Global ag fundamentals are expected to remain weak as construction moderates.Full-year net income forecast unchanged despite challenging environment.MOLINE, Ill., Aug. 15, 2024 /PRNewswire/ -- Deere & Company reported net income of $1.734 billion for the third quarter ended July 28, 2024, or $6.29 per share, compared with net income of $2.978 billion, or $10.20 per share, for the quarter ended July 30, 2023. For the first nine mon ...

News Release Contact: Jen Hartmann Director, Public Relations HartmannJenniferA@JohnDeere.com Deere Reports Third Quarter Net Income of $1.734 Billion ● Strong ag margins highlight continued value delivery amid market fluctuations. ● Global ag fundamentals are expected to remain weak as construction moderates. ● Full-year net income forecast unchanged despite challenging environment. MOLINE, Illinois (August 15, 2024) — Deere & Company reported net income of $1.734 billion for the third quarter ended July 2 ...

Deere & Company DE is set to release earnings results for its third quarter, before the opening bell on Aug. 15, 2024.Analysts expect the Moline, Illinois-based company to report quarterly earnings at $5.69 per share, down from $10.2 per share in the year-ago period. Deere is expected to report quarterly revenue of $10.93 billion for the quarter, according to data from Benzinga Pro.On May 16, Deere reported second-quarter 2024 results and lowered its net income 2024 outlook. The company's net sales and reve ...