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Deere (DE) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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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.
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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Deere (DE) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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.