Deere (DE - Free Report) reported $10.49 billion in revenue for the quarter ended January 2024, representing a year-over-year decline of 8%. EPS of $6.23 for the same period compares to $6.55 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $10.43 billion, representing a surprise of +0.53%. The company delivered an EPS surprise of +20.04%, with the consensus EPS estimate being $5.19.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Deere performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales and Revenues- Agriculture and Turf (Production & precision ag net sales + Small ag & turf net sales): $7.27 billion versus $7.28 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -11.3% change.
- Net Sales and Revenues- Construction & forestry net sales: $3.21 billion versus $2.97 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +0.3% change.
- Net Sales and Revenues- Small ag & turf net sales: $2.43 billion versus the five-analyst average estimate of $2.55 billion. The reported number represents a year-over-year change of -19.2%.
- Net Sales and Revenues- Production & precision ag net sales: $4.85 billion versus the five-analyst average estimate of $4.68 billion. The reported number represents a year-over-year change of -6.7%.
- Net Sales and Revenues- Equipment Operations- Net sales: $10.49 billion versus the five-analyst average estimate of $10.36 billion. The reported number represents a year-over-year change of -8%.
- Net Sales and Revenues- Other revenues: $323 million versus $249.01 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +53.8% change.
- Net Sales and Revenues- Financial services revenues: $1.38 billion versus $1.05 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +32.3% change.
- Net Sales and Revenues- Net sales: $10.49 billion versus the three-analyst average estimate of $10.25 billion. The reported number represents a year-over-year change of -8%.
- Net Sales and Revenues- Financial services- Total: $1.55 billion compared to the $1.23 billion average estimate based on two analysts.
- Net Sales and Revenues- Other income: $339 million compared to the $245.37 million average estimate based on two analysts. The reported number represents a change of +32.4% year over year.
- Net Sales and Revenues- Equipment Operations- Finance and interest income: $157 million versus the two-analyst average estimate of $117.69 million.
- Net Sales and Revenues- Equipment Operations- Other income: $289 million versus $219.64 million estimated by two analysts on average.
View all Key Company Metrics for Deere here>>>Shares of Deere have returned +1.6% over the past month versus the Zacks S&P 500 composite's +4.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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It’s an American AI company that’s riding low right now, but it has rounded up clients like BMW, GE, Dell Computer, and Bosch. It has prospects for not just doubling but quadrupling in the year to come. Of course, all our picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Deere (DE - Free Report) reported $10.49 billion in revenue for the quarter ended January 2024, representing a year-over-year decline of 8%. EPS of $6.23 for the same period compares to $6.55 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $10.43 billion, representing a surprise of +0.53%. The company delivered an EPS surprise of +20.04%, with the consensus EPS estimate being $5.19.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Deere performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales and Revenues- Agriculture and Turf (Production & precision ag net sales + Small ag & turf net sales): $7.27 billion versus $7.28 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -11.3% change.
- Net Sales and Revenues- Construction & forestry net sales: $3.21 billion versus $2.97 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +0.3% change.
- Net Sales and Revenues- Small ag & turf net sales: $2.43 billion versus the five-analyst average estimate of $2.55 billion. The reported number represents a year-over-year change of -19.2%.
- Net Sales and Revenues- Production & precision ag net sales: $4.85 billion versus the five-analyst average estimate of $4.68 billion. The reported number represents a year-over-year change of -6.7%.
- Net Sales and Revenues- Equipment Operations- Net sales: $10.49 billion versus the five-analyst average estimate of $10.36 billion. The reported number represents a year-over-year change of -8%.
- Net Sales and Revenues- Other revenues: $323 million versus $249.01 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +53.8% change.
- Net Sales and Revenues- Financial services revenues: $1.38 billion versus $1.05 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +32.3% change.
- Net Sales and Revenues- Net sales: $10.49 billion versus the three-analyst average estimate of $10.25 billion. The reported number represents a year-over-year change of -8%.
- Net Sales and Revenues- Financial services- Total: $1.55 billion compared to the $1.23 billion average estimate based on two analysts.
- Net Sales and Revenues- Other income: $339 million compared to the $245.37 million average estimate based on two analysts. The reported number represents a change of +32.4% year over year.
- Net Sales and Revenues- Equipment Operations- Finance and interest income: $157 million versus the two-analyst average estimate of $117.69 million.
- Net Sales and Revenues- Equipment Operations- Other income: $289 million versus $219.64 million estimated by two analysts on average.
View all Key Company Metrics for Deere here>>>Shares of Deere have returned +1.6% over the past month versus the Zacks S&P 500 composite's +4.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s an American AI company that’s riding low right now, but it has rounded up clients like BMW, GE, Dell Computer, and Bosch. It has prospects for not just doubling but quadrupling in the year to come. Of course, all our picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
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