Categories AlphaGraphs, Earnings, Other Industries

Deere & Company (DE) Q3 sales, earnings top expectations; stock gains

Tractor maker Deere & Company (NYSE: DE) said its third-quarter earnings declined, hurt by a double-digit fall in revenues. Both earnings and revenues beat the estimates, driving the company’s stock higher on Friday morning.

Deere & Company Q3 2020 Earnings Infographic

Net income dropped to $811 million or $2.57 per share in the July-quarter from $899 million or $2.81 per share in the comparable period of last year. Analysts were looking for a lower number.

Worldwide net sales and revenues decreased by 11% to $8.93 billion but came in above the consensus forecast. For fiscal 2020, the management forecasts earnings of $2.25 billion.


Looking forward to listening to management/analysts’ comments on Q3 results? Stay tuned here for Deere’s Q3 2020 earnings call transcript 


“Although unsettled market conditions and related customer uncertainty are expected to have a moderating effect on key markets in the near term, we believe Deere is well-positioned to help make our customers more profitable and sustainable,” said CEO John May.

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