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Deere's Fourth Quarter Earnings Report
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Deere & Company (NYSE:DE) announced its results for the most recent quarter on November 21, 2012. Deere & Company provides products and services for agriculture, forestry, construction, landscaping, and irrigation.
Earnings are perhaps the single most studied number in a company's financial statements because they show a company's profitability. SEE: Everything Investors Need To Know About Earnings
The Numbers: Though Deere's EPS fell short of estimates, the company's revenues managed to trump predictions. The company reported $1.75 per share versus the $2.32 per share estimate and revenues of $9.79 billion versus the $9.7 billion estimate. EPS rose 8% while revenue climbed 13.7% from the same period last year. Net income for the fourth quarter was $687.6 million. According to the reported number, this is up 2.7% from last year's figures. Last quarter marked the third in a row of rising net income.
Management Quote: "In the face of continuing global economic pressure, John Deere has completed another record year," said Samuel R. Allen, chairman and chief executive officer. "Our success reflects positive customer response to our lines of innovative equipment coupled with extensive efforts to expand our global competitive position."
A Look Back: Net income has increased 16.1% year-over-year on average across the last five quarters. The biggest gain came in the fourth quarter of the last fiscal year, when income climbed 46.4% from the year-earlier quarter.
Looking Ahead: For the next quarter, analysts are growing pessimistic about the company's expected results. The average estimate for the first quarter of the next fiscal year is $2.05 per share, dropping from $2.06 a month ago. Increasing earnings estimate is a positive sign about the company and it typically leads a increase in the stock price. Decreasing earnings estimates is generally a negative sign as it suggests analyst believe future earnings to be weaker than previously anticipated. Over the past three months, the average estimate for the fiscal year has climbed from $8 per to share to $8.24.
Earnings are perhaps the single most studied number in a company's financial statements because they show a company's profitability. SEE: Everything Investors Need To Know About Earnings
The Numbers: Though Deere's EPS fell short of estimates, the company's revenues managed to trump predictions. The company reported $1.75 per share versus the $2.32 per share estimate and revenues of $9.79 billion versus the $9.7 billion estimate. EPS rose 8% while revenue climbed 13.7% from the same period last year. Net income for the fourth quarter was $687.6 million. According to the reported number, this is up 2.7% from last year's figures. Last quarter marked the third in a row of rising net income.
Management Quote: "In the face of continuing global economic pressure, John Deere has completed another record year," said Samuel R. Allen, chairman and chief executive officer. "Our success reflects positive customer response to our lines of innovative equipment coupled with extensive efforts to expand our global competitive position."
A Look Back: Net income has increased 16.1% year-over-year on average across the last five quarters. The biggest gain came in the fourth quarter of the last fiscal year, when income climbed 46.4% from the year-earlier quarter.
Looking Ahead: For the next quarter, analysts are growing pessimistic about the company's expected results. The average estimate for the first quarter of the next fiscal year is $2.05 per share, dropping from $2.06 a month ago. Increasing earnings estimate is a positive sign about the company and it typically leads a increase in the stock price. Decreasing earnings estimates is generally a negative sign as it suggests analyst believe future earnings to be weaker than previously anticipated. Over the past three months, the average estimate for the fiscal year has climbed from $8 per to share to $8.24.
by
Investopedia Staff
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