DE Stock Recent News

Deere (NYSE: DE) recently reported its Q3 fiscal 2024 results (fiscal ends in October), with revenues and earnings exceeding the street estimates. The company reported equipment revenue of $11.8 billion and earnings of $6.29 per share, compared to the consensus estimates of $10.9 billion and $5.68, respectively.

Harley-Davidson is pulling back its DEI programs, following backlash from a conservative activist. Robby Starbuck has led social media campaigns against companies for their DEI practices.

As murky as the outlook for farming and construction equipment is, Deere & Company's DE operational quality and capital return have its stock price on track to hit a fresh high soon. The critical details from the Q3 release include top and bottom-line strengths, favorable guidance despite challenging conditions, robust capital return, and a pledge to continue working on costs.

Deere's results look poor relative to its record growth. But zoom out, and it is doing incredibly well compared to pre-pandemic levels.

Deere & Company NYSE: DE shares bounced upward by more than 6% following a better-than-expected fiscal third-quarter earnings report, although the company continues to face significant industry headwinds. Cost-cutting measures have been successful insofar as the maker of agricultural and forestry equipment maintained its profit outlook for the year.

Deere & Co DE reported better-than-expected third-quarter results and reaffirmed its net income 2024 outlook on Thursday.

Deere & Company benefits from global tailwinds, market leadership, and resilient dividend growth. Despite short-term headwinds, Deere is positioned for a rebound with proactive measures and advanced technology integration. Analysts are cautious about Deere's future, but the company's long-term potential and current valuation make it an attractive investment.

Sylvia Jablonski, Defiance ETFS CEO, joins 'Power Lunch' to discuss stock plays for three stocks.

Deere & Company (NYSE:DE ) Q3 2024 Results Conference Call August 15, 2024 10:00 AM ET Company Participants Josh Beal - Director of IR Josh Rohleder - Manager of Investor Communications John May - Chief Executive Officer Luke Gakstatter - SVP Ag and Turf Sales & Marketing for Americas & Australia Josh Jepsen - CFO Conference Call Participants Jamie Cook - Truist Securities Angel Castillo - Morgan Stanley Tami Zakaria - JPMorgan Jerry Revich - Goldman Sachs David Raso - Evercore ISI Kristen Owen - Oppenheimer Joel Jackson - BMO Capital Markets Mig Dobre - Baird Chad Dillard - Bernstein Operator Good morning, and welcome to Deere & Company Third Quarter Earnings Conference Call. Your lines have been placed on listen-only mode, until the question-and-answer session of today's conference.

Deere's earnings report showed declining net income and EPS, but sales beat expectations and the dividend appears to be safe. Despite weakening sales and cash flow, Deere remains a long-term buy due to industry leadership and potential for future demand uptick. Deere's valuation is below market average, with a healthy FCF yield and strong profitability, positioning the company well for future cycles.