Scott Olson Deere & Co (NYSE:DE), the world's largest manufacturer of heavy agricultural machinery such as tractors and combine harvesters, recently reported its Q2 earnings. On the back of a cyclical downturn in agricultural end markets from 2022 highs, reported sales were down 12% YoY with net income and EPS dropping 17% and 12% respectively. Now forecasting a stronger than initially expected downcycle, management also cut its full year earnings guidance for a second time by 8%. As a result of both mis ...

Artificial intelligence has taken over business headlines for good reason. Yet, investors may be better served, at this juncture, focusing on underappreciated AI stocks. Why? Primarily, it comes down to the impact of a crowded trade.Yes, you can pile your funds into the usual suspects such as Nvidia (NASDAQ:NVDA). However, the market never sees assets rise in perfectly linear fashion indefinitely because it’s difficult to sustain rising expectations. That’s especially the case for Nvidia. With so many blist ...

18 January 2024, Berlin: A John Deere 8RX tractor stands in an exhibition hall before the start of ... [+] Green Week. Photo: Fabian Sommer/dpa (Photo by Fabian Sommer/picture alliance via Getty Images)dpa/picture alliance via Getty ImagesDeere (NYSE: DE) recently reported its Q2 fiscal 2024 results (fiscal ends in October), with revenues and earnings exceeding the street estimates. The company reported equipment revenue of $13.6 billion and earnings of $8.53 per share, compared to the consensus estimates o ...

The farm equipment giant's weaker results reflect challenging macroeconomic conditions for the agriculture industry.Deere & Company (DE 0.66%), a leading manufacturer of agricultural, construction, and forestry machinery, released its fiscal 2024 second-quarter financial results on May 16. For the period, which ended April 28, net income fell 17% year over year to $2.4 billion, while revenue dropped 12% to $15.2 billion. Despite these challenges, the company reiterated its commitment to its strategic initia ...

Key PointsDeere & Company's Q2 earnings beat analysts' expectations, driven by strong revenue but offset by a lowered full-year profit forecast.The agricultural sector faces multiple headwinds, including lower commodity prices, rising input costs, and declining farm income, creating a cautious outlook for the industry.Deere & Company remains committed to its long-term growth strategy, focusing on technology, innovation, sustainability, and diversification.5 stocks we like better than Deere & CompanyDeere & ...

The rapid advancements in artificial intelligence (AI) and automation have led to a surge in interest in robotics stocks. However, investors should be cautious about investing in this sector in 2024. Many robotics companies are facing significant challenges that could negatively impact their performance and lead to a strong bear case for selling these stocks. This has led to my list of robotics and automation stocks to sell.One major concern is the oversaturation of the market. As more companies enter the r ...

Despite exceeding top and bottom line expectations for its fiscal second quarter this morning, Deere & Company’s (DE)  stock dropped -5% in Thursday's trading session after lowering its fiscal 2024 net income guidance.Still, as a pioneer and the dominant market leader in manufactured agricultural equipment, investors may be wondering if it's time to buy the dip in Deere’s stock given its strong historical performance.Q2 Financial Review Deere’s Q2 net income came in at $2.37 billion or $8.53 per share which ...

Deere & Company (NYSE:DE) Q2 2024 Results Conference Call May 16, 2024 10:00 AM ET Company Participants Josh Beal - Director of IR Josh Jepsen - Chief Financial Officer Cory Reed - President, Worldwide Agriculture & Turf Division Josh Rohleder - Manager of Investor Communications Conference Call Participants Mig Dobre - Baird Kristen Owen - Oppenheimer Nicole DeBlase - Deutsche Bank Jairam Nathan - Daiwa Rob Wertheimer - Melius Jerry Revich - Goldman Sachs Operator Good morning, and welcome to Deere & Compa ...

Deere & Company (DE) shares fell 5.1% in the pre-market trading, as the company cut down its 2024 guidance.DE reported second-quarter fiscal 2024 (ended Apr 28) earnings of $8.53 per share, beating the Zacks Consensus Estimate of $7.86. The bottom line decreased 12% from the prior-year quarter on lower shipment volumes.Net sales of equipment operations (comprising Agriculture, and Turf, Construction and Forestry) were $13.61 billion, down 15.4% year over year. However, net sales topped the Zacks Consensus E ...

Deere (DE) reported $13.61 billion in revenue for the quarter ended April 2024, representing a year-over-year decline of 15.4%. EPS of $8.53 for the same period compares to $9.65 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $13.26 billion, representing a surprise of +2.66%. The company delivered an EPS surprise of +8.52%, with the consensus EPS estimate being $7.86.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...