FY2019 full-year GAAP EPS was $10.15, slightly beating the (twice-lowered) guidance of $10.00 (#msg-150576031). In FY4Q19, agriculture-equipment comprised 66% of DE’s product sales, and construction/forestry equipment comprised 34%. (DE’s wholly-owned finance subsidiary is not consolidated for reporting sales.)
FY2020 guidance is for GAAP earnings of $2.7-3.1B, which equates to an (unusually wide) EPS range of $8.57-9.84 (based on 315 million diluted shares). This range is -16% to -3% relative to FY2019 GAAP EPS.
p.s. DE recently took advantage of ultra-low interest rates by raising $500M in 30-year debt at a rate of 2.875% (#msg-150925290)!
*Ending 10/31/20.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.