Deere & Company (NYSE:DE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.00%.
Deere & Company Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 29.29% to $2.56 in the quarter versus EPS of $1.98 in the year-earlier quarter.
Revenue: Decreased 2.86% to $9.32 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Deere & Company reported adjusted EPS income of $2.56 per share. By that measure, the company beat the mean analyst estimate of $2.17. It beat the average revenue estimate of $9.29 billion.
Quoting Management: ” John Deere is well on the road to another year of impressive performance after reporting record third-quarter results,” said Samuel R. Allen , chairman and chief executive officer. Sales and income for the period were higher than in any prior third quarter, he pointed out. “Deere’s success is a reflection of considerable strength in the farm sector, especially in North and South America . We also are making further progress executing our wide-ranging operating and marketing plans, which call for expanding our global market presence while keeping a close watch on costs and assets.”
Key Stats (on next page)…
Revenue decreased 14.64% from $10.91 billion in the previous quarter. EPS decreased 7.25% from $2.76 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.96 to a profit $1.95. For the current year, the average estimate has moved down from a profit of $8.55 to a profit of $8.53 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)