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Compared to Estimates, Deere (DE) Q2 Earnings: A Look at Key Metrics
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Deere (DE - Free Report) reported $13.61 billion in revenue for the quarter ended April 2024, representing a year-over-year decline of 15.4%. EPS of $8.53 for the same period compares to $9.65 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $13.26 billion, representing a surprise of +2.66%. The company delivered an EPS surprise of +8.52%, with the consensus EPS estimate being $7.86.
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- Production & precision ag net sales: $6.58 billion versus $6.17 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -15.9% change.
Net Sales and Revenues- Agriculture and Turf (Production & precision ag net sales + Small ag & turf net sales): $9.77 billion versus $9.63 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -18.4% change.
Net Sales and Revenues- Small ag & turf net sales: $3.19 billion versus the six-analyst average estimate of $3.46 billion. The reported number represents a year-over-year change of -23.2%.
Net Sales and Revenues- Construction & forestry net sales: $3.84 billion versus $3.64 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -6.5% change.
Net Sales and Revenues- Equipment Operations- Net sales: $13.61 billion compared to the $13.21 billion average estimate based on five analysts. The reported number represents a change of -15.4% year over year.
Net Sales and Revenues- Financial services revenues: $1.40 billion compared to the $1.02 billion average estimate based on three analysts. The reported number represents a change of +26% year over year.
Net Sales and Revenues- Other revenues: $230 million versus $248.97 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +14.4% change.
Net Sales and Revenues- Net sales: $13.61 billion versus the three-analyst average estimate of $13.04 billion. The reported number represents a year-over-year change of -15.4%.
Net Sales and Revenues- Financial services- Total: $1.59 billion compared to the $1.18 billion average estimate based on two analysts.
Net Sales and Revenues- Finance and interest income: $1.39 billion versus $1.11 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +28.5% change.
Net Sales and Revenues- Equipment Operations- Finance and interest income: $129 million versus $122.38 million estimated by two analysts on average.
Net Sales and Revenues- Financial services- Other Income: $92 million compared to the $96.24 million average estimate based on two analysts.
Shares of Deere have returned +4.3% over the past month versus the Zacks S&P 500 composite's +5% 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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Compared to Estimates, Deere (DE) Q2 Earnings: A Look at Key Metrics
Deere (DE - Free Report) reported $13.61 billion in revenue for the quarter ended April 2024, representing a year-over-year decline of 15.4%. EPS of $8.53 for the same period compares to $9.65 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $13.26 billion, representing a surprise of +2.66%. The company delivered an EPS surprise of +8.52%, with the consensus EPS estimate being $7.86.
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- Production & precision ag net sales: $6.58 billion versus $6.17 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -15.9% change.
- Net Sales and Revenues- Agriculture and Turf (Production & precision ag net sales + Small ag & turf net sales): $9.77 billion versus $9.63 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -18.4% change.
- Net Sales and Revenues- Small ag & turf net sales: $3.19 billion versus the six-analyst average estimate of $3.46 billion. The reported number represents a year-over-year change of -23.2%.
- Net Sales and Revenues- Construction & forestry net sales: $3.84 billion versus $3.64 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -6.5% change.
- Net Sales and Revenues- Equipment Operations- Net sales: $13.61 billion compared to the $13.21 billion average estimate based on five analysts. The reported number represents a change of -15.4% year over year.
- Net Sales and Revenues- Financial services revenues: $1.40 billion compared to the $1.02 billion average estimate based on three analysts. The reported number represents a change of +26% year over year.
- Net Sales and Revenues- Other revenues: $230 million versus $248.97 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +14.4% change.
- Net Sales and Revenues- Net sales: $13.61 billion versus the three-analyst average estimate of $13.04 billion. The reported number represents a year-over-year change of -15.4%.
- Net Sales and Revenues- Financial services- Total: $1.59 billion compared to the $1.18 billion average estimate based on two analysts.
- Net Sales and Revenues- Finance and interest income: $1.39 billion versus $1.11 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +28.5% change.
- Net Sales and Revenues- Equipment Operations- Finance and interest income: $129 million versus $122.38 million estimated by two analysts on average.
- Net Sales and Revenues- Financial services- Other Income: $92 million compared to the $96.24 million average estimate based on two analysts.
View all Key Company Metrics for Deere here>>>Shares of Deere have returned +4.3% over the past month versus the Zacks S&P 500 composite's +5% 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.