Deere Q4 Earnings Top Estimates, Sales Fall Y/Y on Low Volumes

Zacks11-22

Deere & Company DE reported fourth-quarter fiscal 2024 (ended Oct. 27) earnings of $4.55 per share, beating the Zacks Consensus Estimate of earnings of $3.90. The bottom line decreased 45% from the ...

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The bottom line decreased 45% from the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/deere-q4-earnings-top-estimates-183000977.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Deere Q4 Earnings Top Estimates, Sales Fall Y/Y on Low Volumes</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDeere Q4 Earnings Top Estimates, Sales Fall Y/Y on Low Volumes\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-22 02:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/deere-q4-earnings-top-estimates-183000977.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Deere & Company DE reported fourth-quarter fiscal 2024 (ended Oct. 27) earnings of $4.55 per share, beating the Zacks Consensus Estimate of earnings of $3.90. The bottom line decreased 45% from the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/deere-q4-earnings-top-estimates-183000977.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AGCO","symbol_name":"爱科集团","start_time":0,"source_url":"https://finance.yahoo.com/news/deere-q4-earnings-top-estimates-183000977.html","article_id":"2485414447","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/cpWMk4.U6KPGCf2qRzq_Ng--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/70d18c3939818a82d18f339f698677b5"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485414447","pubTimestamp":1732213800,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Deere & Company DE reported fourth-quarter fiscal 2024  earnings of $4.55 per share, beating the Zacks Consensus Estimate of earnings of $3.90. The bottom line decreased 45% from the prior-year quarter.The downside was mainly led by lower shipment volumes across all segments, reflecting weak demand. It was somewhat negated by the company’s pricing strategies and lower production expenses.Deere & Company price-consensus-eps-surprise-chart | Deere & Company Quote. Net sales of equipment operations  were $9.28 billion, down 32.8% year over year. Sales topped the Zacks Consensus Estimate of $9.15 billion. Total net sales  were $11.14 billion, down 27.7% year over year.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The cost of sales in the reported quarter moved down 30.3% year over year to $6.57 billion. Total gross profit decreased 38.2% year over year to $2.70 billion. Selling, administrative and general expenses rose 2.4% to $1.23 billion from the year-ago quarte","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"AGCO":"爱科集团","CNH":"凯斯纽荷兰环球","DE":"迪尔股份有限公司","LNN":"Lindsay Corporation"},"translate_title":"Deere第四季度盈利最高预期，销量同比下降","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AGCO":0.9,"CNH":0.9,"DE":0.9,"LNN":0.9},"content_text":"Deere & Company DE reported fourth-quarter fiscal 2024 (ended Oct. 27) earnings of $4.55 per share, beating the Zacks Consensus Estimate of earnings of $3.90. The bottom line decreased 45% from the prior-year quarter.The downside was mainly led by lower shipment volumes across all segments, reflecting weak demand. It was somewhat negated by the company’s pricing strategies and lower production expenses.\n\nDeere & Company Price, Consensus and EPS Surprise\n\nDeere & Company price-consensus-eps-surprise-chart | Deere & Company Quote\n\nNet sales of equipment operations (comprising Agriculture & Turf, Construction & Forestry) were $9.28 billion, down 32.8% year over year. Sales topped the Zacks Consensus Estimate of $9.15 billion. Total net sales (including financial services and others) were $11.14 billion, down 27.7% year over year.\nFind the latest EPS estimates and surprises on Zacks Earnings Calendar.\nDeere’s Q4 Operational Update\nThe cost of sales in the reported quarter moved down 30.3% year over year to $6.57 billion. Total gross profit decreased 38.2% year over year to $2.70 billion. Selling, administrative and general expenses rose 2.4% to $1.23 billion from the year-ago quarter.Total operating profit (including financial services) declined 52.1% year over year to $1.45 billion in the fiscal fourth quarter.\nDE’s Q4 Segment Performance\nThe Production & Precision Agriculture segment’s sales declined 38% year over year to $4.31 billion. The figure beat our model’s estimated revenues of $4.03 billion for the quarter. The downside was led by lower shipment volumes.Operating profit decreased 64% year over year to $657 million due to lower shipment volumes/sales mix, partially negated by reduced production expenses. Our estimate for the segment’s operating profit was $543 million.Small Agriculture & Turf sales were down 25% year over year at $2.31 billion on low shipment volumes, somewhat offset by price realization. Our projection for the segment’s sales was $2.11 billion. Operating profit declined 47% year over year to $234 million. The figure was higher than our estimate for an operating profit of $147 million for the segment.Construction & Forestry sales were $2.66 billion, down 29% year over year on lower shipment volumes. The figure lagged our projection of $2.92 billion. Operating profit decreased 36% year over year to $328 million due to lower shipment volumes/sales mix, partially negated by lower production expenses. Our estimate for the segment’s operating profit was $301 million.Revenues in Deere’s Financial Services division were $1.52 billion in the reported quarter, up 13% year over year. The figure was higher than our estimate of $1.42 billion. The segment’s operating income was $231 million in the quarter under review, up from $229 million in the prior-year quarter. Our projection was $250 million for the quarter.Net income for Financial services declined 9% year over year to $173 million in the fourth quarter of fiscal 2024.\nDeere’s Q4 Cash & Debt Position\nDeere reported cash and cash equivalents of $7.32 billion at the end of fiscal 2024 compared with $7.46 billion at fiscal 2023 end. Cash flow from operating activities was $9.23 billion in fiscal 2024 compared with $8.59 billion in the prior fiscal year.At the end of fiscal 2024, DE’s long-term borrowing was $43.23 billion compared with $38.48 billion at fiscal 2023 end.\nDE’s FY24 Performance\nThe company reported earnings per share of $25.62 in fiscal 2024, 26% lower than earnings of $34.63 in fiscal 2023. It beat the Zacks Consensus Estimate of earnings of $25.00.Net sales of equipment operations (comprising Agriculture and Turf, Construction, and Forestry) decreased 19.4% year over year to $44.76 billion, which beat the consensus estimate of $44.63 billion. Total net sales (including financial services and others) were $51.72 billion, down 16% year over year.\nDeere’s FY25 Guidance\nDeere expects net income for fiscal 2025 between $5 billion and $5.5 billion.Net sales for Production & Precision Agriculture are expected to decline 15% year over year in fiscal 2025. Sales of Small Agriculture & Turf are expected to drop 10%. Sales of Construction & Forestry are projected to move down 10-15%. The Financial Services segment’s net income is expected to be $750 million.\nDE’s Share Price Performance\nDeere’s shares have gained 10.8% in the past year compared with the industry’s 8.3% growth.\nImage Source: Zacks Investment Research\n \nZacks Rank\nDeere currently carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nPerformances of Other Farm Equipment Stocks\nLet us take a look at how other farm equipment stocks fared in their earnings releases.Lindsay Corporation LNN delivered adjusted earnings per share of $1.17 in fourth-quarter fiscal 2024 (ended Aug. 31. 2024), beating the Zacks Consensus Estimate of $1.04. However, the bottom line fell 33% year over year.The company generated sales of $155 million, down 7% from $167 million in the year-ago quarter. The top line surpassed the Zacks Consensus Estimate of $154 million.CNH Industrial N.V. CNH came out with third-quarter 2024 earnings of 24 cents per share, missing the Zacks Consensus Estimate of 28 cents. This compares with earnings of 42 cents a year ago.CNH posted sales of $5.65 billion for the quarter ended September 2024, missing the Zacks Consensus Estimate of $4.78 billion. The top line decreased 22.3% year over year.AGCO Corporation AGCO delivered adjusted earnings per share of 68 cents in third-quarter 2024, missing the Zacks Consensus Estimate of $1.07. The bottom line fell 83% year over year. Low commodity prices and elevated input expenses impacted equipment demand in the quarter.AGCO’s sales decreased 24.8% year over year to $2.6 billion in the September-end quarter. The top line missed the Zacks Consensus Estimate of $2.9 billion. Excluding the unfavorable currency-translation impacts of 0.6%, net sales fell 24.2% year over year.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nLindsay Corporation (LNN) : Free Stock Analysis Report\nDeere & Company (DE) : Free Stock Analysis Report\nAGCO Corporation (AGCO) : Free Stock Analysis Report\nCNH Industrial N.V. (CNH) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485414447"}