Deere & Company Up 7.05% To $445.02 After Earnings Beat

Wednesday, November 23, 2022 - Deere & Company (DE) reported upside earnings and revenues today.

Deere & Company's earnings came in at an EPS of $7.44 per share, 5.00% higher than estimates for an EPS of $7.11 per share. The firm's earnings are up 81% since reporting $4.12 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus analyst estimates were at $13.4 billion. The Industrials company managed to surpass those expectations for its fourth quarter with revenue of $15.5 billion, a positive revenue surprise of $2.1 billion (16%). The firm managed 37% growth year-over-year due to Deere & Company reporting quarterly revenue of $11.3 billion in its year-ago quarter. Deere & Company achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is up 7.05% to $445.02 after the report.

Deere & Company's earnings expanded faster than revenues, signaling widening profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Deere & Company a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 78. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Deere is the world's leading manufacturer of agricultural equipment, producing some of the most recognizable machines in the heavy machinery industry. The company is divided into four reportable segments: production and precision agriculture, small agriculture and turf, construction and forestry, and John Deere Capital. Its products are available through an extensive dealer network, which includes over 1,900 dealer locations in North America and approximately 3,700 locations globally. John Deere Capital provides retail financing for machinery to its customers, in addition to wholesale financing for dealers, which increases the likelihood of Deere product sales.