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DewDiligence

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DewDiligence

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Re: DewDiligence post# 345

Friday, 08/20/2021 11:36:03 AM

Friday, August 20, 2021 11:36:03 AM

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DE raises_FY2021_guidance_AGAIN—expects_profit_of_$5.7-5.9B—(up_from_$5.5B_3mo_ago,_$4.8B_6m_ago_and_ $3.8B_9mo_ago):

https://www.deere.com/assets/pdfs/common/our-company/news/deere-3q21-news-release.pdf

Based on 313M diluted shares, the $5.7-5.9B profit guidance translates into GAAP EPS of $18.21-18.85. At the current share price of $350, the EPS guidance equates to a P/E of 18-19x. (DE’s FY2021 ends 10/31/21.)

Despite everything above, the stock is down modestly today because investors figure things can’t get any better.

FY3Q21 CC slides:
https://s22.q4cdn.com/253594569/files/doc_financials/2021/q3/3Q_2021_Earnings-Call-Presentation.pdf

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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