Deere Earnings: Stock Slips Despite Beating Estimates Amid Sector Challenges
Deere & Company (DE) shares fell post-earnings despite topping analyst expectations, as the agricultural machinery giant navigates persistent macroeconomic headwinds. Fiscal Q4 earnings of $3.93 per share exceeded the $3.84 consensus but marked a 13.6% annual decline from $4.55. Revenue surged 11% YoY to $12.39 billion, significantly outpacing the $9.83 billion forecast.
'Our teams executed at a high level despite challenges and uncertainty,' CEO John May noted, underscoring the industrial sector's struggle with input costs and demand volatility. The earnings beat failed to reassure investors amid broader market skepticism toward capital goods manufacturers.