Deere and Co (DE): DE -7% on trade-related cut in FY2019 gu...

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Re: DewDiligence post# 309

Friday, 05/17/2019 1:53:46 PM

Friday, May 17, 2019 1:53:46 PM

DE -7% on trade-related cut in FY2019 guidance…

FY2Q19 PR:
https://s22.q4cdn.com/253594569/files/doc_financials/2019/Q2/2Q_2019_News-Release-and-Financials.pdf

FY2Q19 CC slides:
https://s22.q4cdn.com/253594569/files/doc_financials/2019/Q2/2Q_2019_Earnings-Call-Presentation.pdf

Full–year FY2019 profit guidance was lowered from $3.60B ($11.17*/sh) to $3.30B ($10.24*/sh).

The softness was—and will be—be mainly in DE’s ag-equipment segment rather than the construction segment.

DE has now had six consecutive quarters where it came in below guidance. However, even after today’s drop, DE remains about 7% above its 12-month low.

*Based on 322M diluted shares.

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