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Deere (DE) to Report Q1 Earnings: What's in the Offing?
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Deere & Company (DE - Free Report) is scheduled to report first-quarter fiscal 2021 results (ended as of Jan 31, 2021) on Feb 19, before the opening bell.
Which Way are the Estimates Trending?
The Zacks Consensus Estimate for Deere’s earnings per share is pegged at $2.12 for the fiscal first quarter, suggesting 30% year-over-year growth. The Zacks Consensus Estimate for total revenues is pinned at $7.08 billion for the period, indicating a year-over-year increase of 8.4%. The company has a trailing four-quarter average earnings surprise of 52.6%.
Let’s see how things have shaped up prior to this announcement.
Our proven model conclusively predicts an earnings beat for Deere this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Deere is +0.19%.
Zacks Rank: Deere currently carries a Zacks Rank of 3.
Key Factors to Consider
Replacement demand for old equipment, increased spending on agricultural equipment owing to pick up in farm income, improved agricultural commodity prices as well as demand for Deere’s products with advanced technologies and features will likely reflect on the fiscal first quarter’s revenue numbers. Cost management and benefits from footprint assessment are likely to have boosted the company’s margin during the to-be-reported quarter. However, uncertainties regarding the COVID-19 pandemic might have affected its quarterly performance.
The Zacks Consensus Estimate for the Agriculture and Turf equipment segment’s quarterly net sales is currently pegged at $4,954 million, calling for growth of 10.4% from the year-ago period. The Agriculture and Turf equipment segment’s operating income is projected at $655 million, up from the prior-year quarter’s $373 million.
The Zacks Consensus Estimate for the Construction & Forestry segment’s sales is pegged at $2,066 million for the November-January period, suggesting an improvement of 1% from the year-earlier quarter – reflecting stabilization in the construction and forestry markets following the pandemic-induced demand disruption. The Construction & Forestry segment is expected to report an operating profit of $145 million, indicating a jump of 56%, year on year.
The Zacks Consensus Estimate for net sales of equipment operations (which comprise Agriculture and Turf, Construction and Forestry) is $7,025 million, calling for year-over-year growth of 7.6%.
The Zacks Consensus Estimate for the Financial Services segment’s sales is pinned at $893 million, suggesting a year-over-year decline of 4%. The Zacks Consensus Estimate for the segment’s operating profit is currently pegged at $181 million compared with the prior-year quarter’s $179 million.
Price Performance
Deere’s shares have gained 86.2% over the past year, outperforming the industry’s growth of 83.1%.
Other Stocks Worth a Look
Here are some other stocks worth considering as these too have the right combination of elements to post an earnings beat this quarter.
The Toronto-Dominion Bank (TD - Free Report) , currently a Zacks #2 Ranked stock, has an Earnings ESP of +1.29%.
Canadian Imperial Bank of Commerce (CM - Free Report) has an Earnings ESP of +0.82% and carries a Zacks Rank #2, currently.
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Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Deere (DE) to Report Q1 Earnings: What's in the Offing?
Deere & Company (DE - Free Report) is scheduled to report first-quarter fiscal 2021 results (ended as of Jan 31, 2021) on Feb 19, before the opening bell.
Which Way are the Estimates Trending?
The Zacks Consensus Estimate for Deere’s earnings per share is pegged at $2.12 for the fiscal first quarter, suggesting 30% year-over-year growth. The Zacks Consensus Estimate for total revenues is pinned at $7.08 billion for the period, indicating a year-over-year increase of 8.4%. The company has a trailing four-quarter average earnings surprise of 52.6%.
Let’s see how things have shaped up prior to this announcement.
Deere & Company Price and EPS Surprise
Deere & Company price-eps-surprise | Deere & Company Quote
Earnings Whispers
Our proven model conclusively predicts an earnings beat for Deere this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Deere is +0.19%.
Zacks Rank: Deere currently carries a Zacks Rank of 3.
Key Factors to Consider
Replacement demand for old equipment, increased spending on agricultural equipment owing to pick up in farm income, improved agricultural commodity prices as well as demand for Deere’s products with advanced technologies and features will likely reflect on the fiscal first quarter’s revenue numbers. Cost management and benefits from footprint assessment are likely to have boosted the company’s margin during the to-be-reported quarter. However, uncertainties regarding the COVID-19 pandemic might have affected its quarterly performance.
The Zacks Consensus Estimate for the Agriculture and Turf equipment segment’s quarterly net sales is currently pegged at $4,954 million, calling for growth of 10.4% from the year-ago period. The Agriculture and Turf equipment segment’s operating income is projected at $655 million, up from the prior-year quarter’s $373 million.
The Zacks Consensus Estimate for the Construction & Forestry segment’s sales is pegged at $2,066 million for the November-January period, suggesting an improvement of 1% from the year-earlier quarter – reflecting stabilization in the construction and forestry markets following the pandemic-induced demand disruption. The Construction & Forestry segment is expected to report an operating profit of $145 million, indicating a jump of 56%, year on year.
The Zacks Consensus Estimate for net sales of equipment operations (which comprise Agriculture and Turf, Construction and Forestry) is $7,025 million, calling for year-over-year growth of 7.6%.
The Zacks Consensus Estimate for the Financial Services segment’s sales is pinned at $893 million, suggesting a year-over-year decline of 4%. The Zacks Consensus Estimate for the segment’s operating profit is currently pegged at $181 million compared with the prior-year quarter’s $179 million.
Price Performance
Deere’s shares have gained 86.2% over the past year, outperforming the industry’s growth of 83.1%.
Other Stocks Worth a Look
Here are some other stocks worth considering as these too have the right combination of elements to post an earnings beat this quarter.
Sanderson Farms, Inc. has an Earnings ESP of +122.02% and flaunts a Zacks Rank of 1, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Toronto-Dominion Bank (TD - Free Report) , currently a Zacks #2 Ranked stock, has an Earnings ESP of +1.29%.
Canadian Imperial Bank of Commerce (CM - Free Report) has an Earnings ESP of +0.82% and carries a Zacks Rank #2, currently.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>