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Compared to Estimates, Deere (DE) Q3 Earnings: A Look at Key Metrics
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For the quarter ended July 2023, Deere (DE - Free Report) reported revenue of $14.28 billion, up 9.9% over the same period last year. EPS came in at $10.20, compared to $6.16 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $14.23 billion, representing a surprise of +0.35%. The company delivered an EPS surprise of +25.31%, with the consensus EPS estimate being $8.14.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Deere performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales and Revenues- Agriculture and Turf (Production & precision ag net sales + Small ag & turf net sales): $10.55 billion compared to the $10.37 billion average estimate based on five analysts. The reported number represents a change of +8.4% year over year.
Net Sales and Revenues- Production & precision ag net sales: $6.81 billion versus $6.76 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +11.7% change.
Net Sales and Revenues- Small ag & turf net sales: $3.74 billion versus $3.61 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +2.9% change.
Net Sales and Revenues- Construction & forestry net sales: $3.74 billion compared to the $3.61 billion average estimate based on five analysts. The reported number represents a change of +14.4% year over year.
Net Sales and Revenues- Equipment Operations- Net sales: $14.28 billion compared to the $13.99 billion average estimate based on five analysts. The reported number represents a change of +9.9% year over year.
Net Sales and Revenues- Financial services revenues: $1.23 billion versus the four-analyst average estimate of $1.05 billion. The reported number represents a year-over-year change of +36%.
Net Sales and Revenues- Other revenues: $289 million versus the four-analyst average estimate of $256.45 million. The reported number represents a year-over-year change of +45.2%.
Net Sales and Revenues- Net sales: $14.28 billion versus the three-analyst average estimate of $14.06 billion.
Net Sales and Revenues- Other income: $264 million compared to the $293.24 million average estimate based on two analysts.
Net Sales and Revenues- Finance and interest income: $1.25 billion versus the two-analyst average estimate of $1.02 billion.
Operating profit- Agriculture and turf (Production & precision ag + Small ag & turf): $2.51 billion versus $2.23 billion estimated by five analysts on average.
Operating profit- Construction & forestry: $716 million versus the five-analyst average estimate of $637.61 million.
Shares of Deere have returned -4.7% over the past month versus the Zacks S&P 500 composite's -3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Deere (DE) Q3 Earnings: A Look at Key Metrics
For the quarter ended July 2023, Deere (DE - Free Report) reported revenue of $14.28 billion, up 9.9% over the same period last year. EPS came in at $10.20, compared to $6.16 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $14.23 billion, representing a surprise of +0.35%. The company delivered an EPS surprise of +25.31%, with the consensus EPS estimate being $8.14.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Deere performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales and Revenues- Agriculture and Turf (Production & precision ag net sales + Small ag & turf net sales): $10.55 billion compared to the $10.37 billion average estimate based on five analysts. The reported number represents a change of +8.4% year over year.
- Net Sales and Revenues- Production & precision ag net sales: $6.81 billion versus $6.76 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +11.7% change.
- Net Sales and Revenues- Small ag & turf net sales: $3.74 billion versus $3.61 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +2.9% change.
- Net Sales and Revenues- Construction & forestry net sales: $3.74 billion compared to the $3.61 billion average estimate based on five analysts. The reported number represents a change of +14.4% year over year.
- Net Sales and Revenues- Equipment Operations- Net sales: $14.28 billion compared to the $13.99 billion average estimate based on five analysts. The reported number represents a change of +9.9% year over year.
- Net Sales and Revenues- Financial services revenues: $1.23 billion versus the four-analyst average estimate of $1.05 billion. The reported number represents a year-over-year change of +36%.
- Net Sales and Revenues- Other revenues: $289 million versus the four-analyst average estimate of $256.45 million. The reported number represents a year-over-year change of +45.2%.
- Net Sales and Revenues- Net sales: $14.28 billion versus the three-analyst average estimate of $14.06 billion.
- Net Sales and Revenues- Other income: $264 million compared to the $293.24 million average estimate based on two analysts.
- Net Sales and Revenues- Finance and interest income: $1.25 billion versus the two-analyst average estimate of $1.02 billion.
- Operating profit- Agriculture and turf (Production & precision ag + Small ag & turf): $2.51 billion versus $2.23 billion estimated by five analysts on average.
- Operating profit- Construction & forestry: $716 million versus the five-analyst average estimate of $637.61 million.
View all Key Company Metrics for Deere here>>>Shares of Deere have returned -4.7% over the past month versus the Zacks S&P 500 composite's -3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.