DewDiligence Friday, 05/22/20 09:22:01 AM Re: DewDiligence post# 325 Post # of 328 DE FY2Q20 items… PR: https://www.deere.com/en/our-company/news-and-announcements/news-releases/2020/corporate/second-quarter-earnings/ CC slides: https://s22.q4cdn.com/253594569/files/doc_financials/2020/q2/2Q_2020_Earnings-Call-Presentation.pdf DE’s YoY sales fell 22% in the ag segment and 25% in the construction segment, but these results were somewhat better than consensus estimates. DE’s reinstated guidance for the full fiscal year (ending 10/31/20) is sharply down from the original guidance that was issued in Nov 2019 and then retracted due to COVID-19. Specifically, the new FY2020 guidance calls for $1.8B of net income, down from the $2.9B guidance given in Nov 2019 and the $3.2B net income actually achieved in FY2019. The stock is +4% in PM trading. “The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”