Deere (DE) Q3 Earnings and Revenues Surpass Estimates

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]