Deere & Co

NYSE:DEUnited States

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• Deere & Company Q2 Earnings, Revenue Falls, from 21 minutes ago by MT Newswires

  21 minutes ago by MT Newswires
  Companies Mentioned: DE
  06:38 AM EDT, 05/16/2024 (MT Newswires) -- Deere & Company (DE) reported fiscal Q2 diluted earnings Thursday of $8.53 per share down from $9.65 per share a year earlier. Analysts polled by Capital IQ expected $7.92 per share. Net revenue for the qu...

• DJ Deere's Stock Slides 5% On Soft Guidance For Fiscal 2024 -- MarketWatch, from 34 minutes ago by Dow Jones

  34 minutes ago by Dow Jones
  Companies Mentioned: DE
  
  Deere & Co. Inc.'s stock (DE) tumbled 5.8% early Thursday, after the maker of agricultural and construction machinery posted better-than-expected earnings for its fiscal second quarter but offered guidance that fell short of estimates. Deere had net income of $2.370 billion, or $8.53 a share, for the quarter to April 28, down from $2.860 billion, or $9.65 a share, in the year-earlier period. Sales fell 12% to $15.235 billion from $178.387 billion a year ago. The FactSet consensus was for EPS of $7.86 and sales of $13.291 billion. CEO John C. May said the number came in light of "continued changes across the global agricultural sector." The company is now expecting fiscal 2024 net income of about $7.0 billion, while FactSet is expecting $7.5 billion. "We are proactively managing our production and inventory levels to adapt to demand changes and position the business for the future," May said in prepared remarks. "Despite market conditions, we are committed to our strategy and are actively investing in and deploying innovative technologies, products, and solutions to ensure our customers' success." The company is expecting agriculture & turf sales to fell 20% to 25%, for production and precision agriculture to be down 20% to 25% and for construction & forestry sales to be down 5% to 10%. The stock is down 3.5% in the year to date, underperforming the S&P 500 which has gained 11.3%.
  

• -- Earnings Flash (DE) JOHN DEERE COMPANY Reports Q2 Revenue $15.24B, from 36 minutes ago by MT Newswires

  36 minutes ago by MT Newswires
  Companies Mentioned: DE
  06:22 AM EDT, 05/16/2024 (MT Newswires) -- ...

• Press Release: Deere Reports Second Quarter Net Income of $2.370 Billion, from 38 minutes ago by Dow Jones

  38 minutes ago by Dow Jones
  Companies Mentioned: DE
  (17) Elimination of change in investment from Equipment Operations to Financial Services.
  View original content to download multimedia:https://www.prnewswire.com/news-releases/deere-reports-second-quarter-net-income-of-2-370-billion-302147595.html
  

• Press Release: Deere Reports Second Quarter Net Income of $2.370 Billion, from 38 minutes ago by Dow Jones

  38 minutes ago by Dow Jones
  Companies Mentioned: DE
  receivables/payables 31 932 (31) (932) Proceeds from borrowings issued (original maturities greater than three months) 34 41 10,155 4,827 10,189 4,868 Payments of borrowings (original maturities greater than three months) (1,012) (47) (7,127) (3,520) (8,139) (3,567) Repurchases of common stock (2,422) (2,546) (2,422) (2,546) Capital Investment from Equipment Operations (10) 799 10 (799) (17) Dividends paid (796) (697) (247) (12) 247 12 (796) (697) (13) Other (27) (5) (25) (28) (52) (33) Net cash provided by (used for) financing activities (4,003) (2,547) 2,584 5,351 257 (787) (1,162) 2,017 Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash 62 (5) 8 (5) 70 Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash (1,916) (179) 23 625 (1,893) 446 Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 5,755 3,781 1,865 1,160 7,620 4,941 Cash, Cash Equivalents, and Restricted Cash at End of Period $ 3,839 $ 3,602 $ 1,888 $ 1,785 $ 5,727 $ 5,387 (11) Elimination of depreciation on leases related to inventory transferred to equipment on operating leases. (12) Reclassification of share-based compensation expense. (13) Elimination of dividends from Financial Services to the Equipment Operations, which are included in the Equipment Operations operating activities. (14) Primarily reclassification of receivables related to the sale of equipment. (15) Reclassification of direct lease agreements with retail customers. (16) Reclassification of sales incentive accruals on receivables sold to Financial Services. (17) Elimination of change in investment from Equipment Operations to Financial Services.