Ultimate magazine theme for WordPress.
BTC
$19,870.92
+3.08%
ETH
$1,131.44
+5.23%
LTC
$51.37
+1.24%
DASH
$43.53
+2.02%
XMR
$121.07
+4.18%
NXT
$0.00
+3.08%
ETC
$15.21
+3.05%
DOGE
$0.07
+2.66%
ZEC
$57.53
+5.97%
BTS
$0.01
+4.71%
DGB
$0.01
+1.86%
XRP
$0.33
+2.04%
BTCD
$49.95
+0.01%
PPC
$0.28
+7.66%
CRAIG
$0.00
+3.08%
XBS
$1.31
+5.23%
XPY
$0.01
0%
PRC
$0.00
0%
YBC
$1,402.00
0%
DANK
$0.01
+3.08%

Deere beats profit and revenue expectations, but stock falls

- Get Paid To Use Facebook, Twitter and YouTube -


Shares of Deere & Co.
DE,
-1.10%

fell 1.8% toward a three-month low in premarket trading Friday, even after the agriculture, construction and forestry equipment maker reported fiscal second-quarter profit and revenue that rose above expectations, as “strong demand” helped offset supply-chain pressures. Net income increased to $2.10 billion, or $6.81 a share, from $1.79 billion, or $5.68 a share, in the year-ago period. The FactSet consensus for earnings per share was $6.69. Sales grew 10.9% to $13.37 billion, above the FactSet consensus of $13.23 billion. Cost of sales rose 12.5% to $8.92 billion, as gross margin contracted to 33.3% from 34.3%. Production & Precision Agriculture sales rose 13% to $5.1 billion, Small Agriculture & Turf sales increased 5% to $3.6 billion and Construction & Forestry sales rose 9% to $3.45 billion. The company affirmed the sales growth outlook for fiscal 2022. Deere’s stock has gained 6.3% year to date through Thursday while the S&P 500
SPX,
-0.58%

has shed 18.2%.

https://fbs.com/?ppk=forexplatform&lang=en

Source link

Comments are closed.