Stronger-than-expected earnings for Deere

February 19, 2021
Stronger-than-expected earnings for Deere

Deere beat every forecast and increased its full year outlook

The agricultural, construction, and forestry machinery constructor, Deere, posted better-than-expected Q1 earnings.

For the three months ended in January, the company reported an EPS of $3.87, 137% higher than the previous year. It topped the $2.14 earnings per share consensus.

At the same time, worldwide sales rose 19% to $9.12 billion, ahead of the $7.22 billion forecasted.

“Our results were aided by outstanding performance across our business lineup and improving conditions in the farm and construction sectors. In addition, our smart industrial operating strategy is making a significant impact on the company’s results while it also helps our customers be more profitable and sustainable,” stated CEO John May.

For the full fiscal 2021, Deere expects its overall net income to reach a high of $5 billion, up from the previous forecast of $4 billion.

Following the news, Deere stock price gained almost 1%, opening the US session at $303 per share.

Source: thestreet.com

This information prepared by ClickTrades.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.
This information is prepared for general circulation. It does not have regard to the specific investment objectives, financial situation or the particular needs of any recipient.


You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.



This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent.
Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of ClickTrades.com.

Recently Added

Most Affected Instruments

Deere
arrow
deere chart