FMP

FMP

Enter

Deere Plunges 5% on Disappointing Profit Guidance

- (Last modified: Dec 19, 2023 5:49 PM)

twitterlinkedinfacebook
blog post cover photo

Image credit: FMP

Deere & Company's (NYSE:DE) shares experienced a 5% decline intra-day today following the announcement of less-than-expected profit estimates for 2024.

Deere & Company adjusted its forecast for net income for the fiscal year 2024, estimating it to be between $7.75 billion and $8.25 billion. This projection falls short of the $9.32 billion anticipated by Wall Street analysts.

The company saw significant growth in its construction and forestry equipment sector, with net sales reaching $3.74 billion in the third quarter, marking an 11% increase from the same period the previous year. This rise was partially due to increased prices, although higher input costs somewhat counterbalanced it.

Deere & Company reported a 1% decrease in global net sales and revenues, totaling $15.4 billion, for the quarter ending October 29. In contrast, the net income rose by 5.5% compared to the same period last year, reaching $2.37 billion.

Other Blogs

May 14, 2024 11:41 AM - Sanzhi Kobzhan

The easiest way to calculate stock’s target price and why the target price is important.

A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...

blog post title

May 16, 2024 8:06 PM - Gordon Thompson

Deutsche Bank Upgrades AST SpaceMobile to Buy Amid Legal Challenges

On Thursday, May 16, 2024, Deutsche Bank upgraded its rating on NASDAQ:ASTS to Buy, maintaining a hold position. At the time of the announcement, ASTS was trading at $4.03. This decision was accompanied by an increase in the price target for AST SpaceMobile, raised to $22 from $19, as detailed in a ...

blog post title

May 24, 2024 9:30 AM - Rajnish Katharotiya

How to Access and Analyze Earnings Call Transcripts

Earnings call transcripts are invaluable resources for investors, analysts, and financial enthusiasts. They provide insights into a company's performance, strategy, and future outlook, making them essential for making informed investment decisions. With Financial Modeling Prep, Earnings Call Transcr...

blog post title
FMP

FMP

Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
twitterlinkedinfacebookinstagram
2017-2024 © Financial Modeling Prep