Deere and Co (DE): DE FY2Q20 items… PR: https://www.dee...

Reply Private New

Next 10 Prev Next

Send PM Follow Ignore

Followers	829
Posts	119621
Boards Moderated	14
Alias Born	09/05/2002

DewDiligence

Re: DewDiligence post# 325

Friday, 05/22/2020 9:22:01 AM

Friday, May 22, 2020 9:22:01 AM

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!”