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Thursday, May 16, 2024 12:46:37 PM
https://s22.q4cdn.com/253594569/files/doc_financials/2024/q2/DE-2Q24-News-Release.pdf
• FY2023* was a peak-cycle year for DE, so FY2024 is a down year, although still the second-best earnings year in the company's history, based on current guidance.
• FY2Q24 product sales (excluding revenue from DE’s finance unit) were $13.6B, -16% YoY, but above the Wall Street consensus figure of $1326B.
• FY1Q24 GAAP EPS was $8.53, -12% YoY, but above the Wall Street consensus figure of $7.86.
• DE lowered guidance for FY2024 net income to $7.0B (from the prior range of $7.50-7.75B three months ago and $7.75-8.25B six months ago). Based on 278M diluted shares @4/30/24, DE’s FY2024 net-income guidance equates to FY2024 GAAP EPS of $25.18, -27% relative to the actual $34.63 in FY2023.
*DE’s fiscal years end on Oct 31; FY2Q24 spanned the period from 2/1/24 to 4/30/24.
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Recent DE News
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- USO and John Deere Join Forces To Support Those Who Serve • PR Newswire (US) • 07/04/2024 04:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/05/2024 10:01:01 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 03:56:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 03:40:17 PM
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- John Deere Helps Increase Access to Higher Ed • PR Newswire (Canada) • 06/03/2024 04:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/30/2024 07:57:36 PM
- Deere & Company Announces Quarterly Dividend • PR Newswire (US) • 05/29/2024 04:53:00 PM
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- Deere Reports Second Quarter Net Income of $2.370 Billion • PR Newswire (US) • 05/16/2024 10:20:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/16/2024 10:01:05 AM
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