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 ...

Company Performance - Deere reported quarterly earnings of $6.29 per share, exceeding the Zacks Consensus Estimate of $5.80 per share, but down from $10.20 per share a year ago, indicating an earnings surprise of 8.45% [1] - The company achieved revenues of $11.39 billion for the quarter ended July 2024, surpassing the Zacks Consensus Estimate by 4.73%, compared to $14.28 billion in the same quarter last year [1] - Over the last four quarters, Deere has consistently surpassed consensus EPS and revenue estimates [1] Stock Outlook - The stock has underperformed, losing approximately 12.2% since the beginning of the year, while the S&P 500 has gained 14.4% [2] - The current consensus EPS estimate for the upcoming quarter is $4.65 on revenues of $10.16 billion, and for the current fiscal year, it is $25.31 on revenues of $45.17 billion [4] Industry Context - The Manufacturing - Farm Equipment industry, to which Deere belongs, is currently ranked in the bottom 5% of over 250 Zacks industries, which may negatively impact stock performance [5] - The performance of Deere's stock may also be influenced by the overall outlook for the industry [5]

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 ...

Deere & Company (DE) is anticipated to register year-over-year declines in both top and bottom lines when it reports third-quarter fiscal 2024 results on Aug 15, before the opening bell.The Zacks Consensus Estimate for the quarter has moved down over the past 30 days to $5.80 per share. The consensus mark implies a 43% plunge from the year-ago actual. The Zacks Consensus Estimate for revenues is pegged at $11.02 billion, suggesting a 22.9% year-over-year decline.  Image Source: Zacks Investment Research Sol ...

Bundit Minramun/iStock Editorial via Getty Images After an exceedingly strong performance in 2020 and 2021, Deere & Company's (NYSE:DE) stock has been on a bumpy ride over the last few years. While the company benefitted greatly as a result of the pandemic boom for its core tractor, combine, and utility vehicle products, it's clear in hindsight that a good deal of demand was pulled forward due to Covid. DE's results in 2022, 2023 and 2024 (so far) haven't been bad, they haven't been earth shattering eit ...