Deere (NYS: DE) reported earnings on Aug. 15. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended July 31 (Q3), Deere missed estimates on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share grew significantly.
Margins dropped across the board.
Deere reported revenue of $8.93 billion. The 13 analysts polled by S&P Capital IQ foresaw revenue of $9.53 billion on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $8.37 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.98. The 18 earnings estimates compiled by S&P Capital IQ averaged $2.32 per share. GAAP EPS of $1.98 for Q3 were 17% higher than the prior-year quarter's $1.69 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 27.5%, 110 basis points worse than the prior-year quarter. Operating margin was 12.7%, 50 basis points worse than the prior-year quarter. Net margin was 8.2%, 30 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $9.01 billion. On the bottom line, the average EPS estimate is $1.89.
Next year's average estimate for revenue is $33.83 billion. The average EPS estimate is $7.78.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 2,711 members out of 2,841 rating the stock outperform, and 130 members rating it underperform. Among 630 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 607 give Deere a green thumbs-up, and 23 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Deere is outperform, with an average price target of $89.82.
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The article Deere Whiffs on Earnings originally appeared on Fool.com.
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