Deere & Co.(DE,$433.25) quarterly earnings crushes expectations; firm boost full-year outlook
Deere & Co fourth quarter earnings exceed analyst’ expectations, on the back of revenue growth in its high-horsepower tractors and rising spending from construction customers. The agricultural machinery company also boosted its annual profit outlook.
for the first fiscal quarter ending in January, net income climbed to $6.55 per share, crushing analysts' estimates of $5.57.
Revenue rose +32% from the year-ago quarter to $12.65 billion.
Sales of the company's equipment division rose +34% from the year-ago period, while its production and precision agriculture division surged +55%, as the company expands its autonomous solutions for crop planting and harvesting.
For the full-year, Deere is expecting net income of $8.75 billion to $9.25 billion, higher than the $8 billion to $8.5 billion forecast of last quarter.
Aroon Indicator for DE shows an upward move is likely
DE's Aroon Indicator triggered a bullish signal on September 10, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 259 similar instances where the Aroon Indicator showed a similar pattern. In of the 259 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .
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a manufacturer of agricultural, industrial, commercial and consumer equipment
Industry TrucksConstructionFarmMachinery