Deere & Co

NYSE:DEUnited States

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• Deere Lowers Fiscal 2024 Net Income Outlook as Second-Quarter Results Decline, from 51 minutes ago by MT Newswires

  51 minutes ago by MT Newswires
  Companies Mentioned: DE
  10:20 AM EDT, 05/16/2024 (MT Newswires) -- Deere (DE) cut its full-year profit outlook on Thursday as lower shipment volumes dragged down the agriculture and construction equipment manufacturer's fiscal second-quarter results year-on-year. The comp...

• DJ Deere Once Again Over-Delivers But Offers Caution -- Market Talk, from 2 hours ago by Dow Jones

  2 hours ago by Dow Jones
  Companies Mentioned: DE
  
  0813 ET - For the second quarter in a row, Deere has over-delivered in the near-term but raised concerns about activity levels in the back half of the year, says Alex Prudhomme, an analyst at the data firm M Science. The farm and construction equipment maker cut its guidance, just as it did in 1Q, as margins come under pressure and sales decline, particularly in the small agriculture & turf segment, which the analyst previously flagged as facing ongoing deterioration in medium-term demand. The analyst expects investors will be looking in Deere's earnings call for commentary on the potential timing of a market bottom and Deere's inventory reduction efforts. (dean.seal@wsj.com)
  

• DJ Deere's Margins Slashed By Soft Volumes in F2Q -- Market Talk, from 3 hours ago by Dow Jones

  3 hours ago by Dow Jones
  Companies Mentioned: DE
  
  0810 ET - Deere beat earnings forecasts in F2Q, but its main business segments are seeing margins narrow as shipment volumes come down. The operating margin of its production & precision agriculture unit, Deere's largest by revenue, fell more than 2.5 percentage points to 25.1% as lower volumes and higher production costs were only partially offset by higher prices. Lower volumes in its small agriculture & turf segment also more than offset higher prices, trimming its margin to 17.9% from 20.5% in the year-ago quarter. The same dynamic impacted its construction & forestry unit, with higher overhead costs and research & development expenses further driving its operating margin down 3 percentage points to 17.4%. (dean.seal@wsj.com)
  

• DJ Deere Cuts Profit Target As Demand Outlook Weakens -- Market Talk, from 3 hours ago by Dow Jones

  3 hours ago by Dow Jones
  Companies Mentioned: DE
  
  0735 ET - Deere is lowering its profit outlook for the year and guiding for deeper sales declines across two of its three main business segments, citing shaky demand for agricultural and turf products. CEO John May says the company is managing production and inventory levels to adapt to demand changes, but adds that its construction end markets are stable. Deere now expects $7B in earnings this year, down from its previous guidance for $7.5B to $7.75B. Sales in its production & precision agriculture business, its largest by revenue, are now projected to fall 20% to 25%, as are sales in its small agriculture & turf segment. Shares slide 5.2% to $392.50 premarket. (dean.seal@wsj.com)
  

• DJ S&P 500 Futures Rise In Premarket Trading; GameStop, Deere Lag, from 3 hours ago by Dow Jones

  3 hours ago by Dow Jones
  Companies Mentioned: GME, WMT, CB, ALNY, GRAB, CRBG, DE
  
  This article was automatically generated by Barrons.com using technology from Automated Insights.
  
  With U.S. stock markets set to open in two hours, Chubb Ltd. (CB) was up 8.0% in pre-market trading, and Corebridge Financial Inc. (CRBG) was up 6.1%.