UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 28, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file no: 1-4121 DEERE & COMPANY (Exact name of registrant as specified in its charter) Delaware 36-2382580 (State of incorpo ration) ( ...

文章核心观点 - 迪尔公司董事会宣布了2024年第三季度的股息,每股1.47美元,将于2024年8月8日支付给2024年6月28日的股东 [1] 公司信息 - 迪尔公司是纽约证券交易所上市公司,股票代码为DE [1]

It’s important to be aware of the blue-chip stocks to avoid as we come to the end of the first-quarter earnings season, and cracks emerge in certain companies. Retailers, in particular, are struggling as inflation-battered consumers pull back their spending with interest rates elevated. Several prominent retailers posted mixed Q1 financial results and gave a downbeat forecast for the remainder of the year as they struggled with a slowdown in consumer spending. The latest reading from the U.S. Commerce Depar ...

Scott Olson Deere & Co (NYSE:DE), the world's largest manufacturer of heavy agricultural machinery such as tractors and combine harvesters, recently reported its Q2 earnings. On the back of a cyclical downturn in agricultural end markets from 2022 highs, reported sales were down 12% YoY with net income and EPS dropping 17% and 12% respectively. Now forecasting a stronger than initially expected downcycle, management also cut its full year earnings guidance for a second time by 8%. As a result of both missin ...

Artificial intelligence has taken over business headlines for good reason. Yet, investors may be better served, at this juncture, focusing on underappreciated AI stocks. Why? Primarily, it comes down to the impact of a crowded trade. Yes, you can pile your funds into the usual suspects such as Nvidia (NASDAQ:NVDA). However, the market never sees assets rise in perfectly linear fashion indefinitely because it’s difficult to sustain rising expectations. That’s especially the case for Nvidia. With so many blis ...

The farm equipment giant's weaker results reflect challenging macroeconomic conditions for the agriculture industry. Deere & Company (DE 0.66%), a leading manufacturer of agricultural, construction, and forestry machinery, released its fiscal 2024 second-quarter financial results on May 16. For the period, which ended April 28, net income fell 17% year over year to $2.4 billion, while revenue dropped 12% to $15.2 billion. Despite these challenges, the company reiterated its commitment to its strategic initi ...

Key Points Deere & Company's Q2 earnings beat analysts' expectations, driven by strong revenue but offset by a lowered full-year profit forecast. The agricultural sector faces multiple headwinds, including lower commodity prices, rising input costs, and declining farm income, creating a cautious outlook for the industry. Deere & Company remains committed to its long-term growth strategy, focusing on technology, innovation, sustainability, and diversification. 5 stocks we like better than Deere & Company Dee ...

The rapid advancements in artificial intelligence (AI) and automation have led to a surge in interest in robotics stocks. However, investors should be cautious about investing in this sector in 2024. Many robotics companies are facing significant challenges that could negatively impact their performance and lead to a strong bear case for selling these stocks. This has led to my list of robotics and automation stocks to sell. One major concern is the oversaturation of the market. As more companies enter the ...

Despite exceeding top and bottom line expectations for its fiscal second quarter this morning, Deere & Company’s (DE) stock dropped -5% in Thursday's trading session after lowering its fiscal 2024 net income guidance. Still, as a pioneer and the dominant market leader in manufactured agricultural equipment, investors may be wondering if it's time to buy the dip in Deere’s stock given its strong historical performance. Q2 Financial Review Deere’s Q2 net income came in at $2.37 billion or $8.53 per share whic ...

财务数据和关键指标变化 - 净销售额下降12%至152.35亿美元,设备业务净销售额下降15%至136.1亿美元 [13] - 净利润为23.7亿美元,每股摊薄收益8.53美元 [13] 各条业务线数据和关键指标变化 生产和精密农业 - 净销售额下降16%至65.81亿美元,主要由于出货量下降,部分被价格上涨抵消 [14] - 营业利润为16.5亿美元,营业利润率为25.1% [15] 小型农业和园艺 - 净销售额下降23%至31.85亿美元,主要由于出货量下降,部分被价格上涨抵消 [16] - 营业利润下降至5.71亿美元,营业利润率为17.9% [16] 建筑与林业 - 净销售额下降7%至38.44亿美元,主要由于出货量下降,部分被价格上涨和汇率变动抵消 [24] - 营业利润为6.68亿美元,营业利润率为17.4% [24] 各个市场数据和关键指标变化 北美大型农机 - 预计全年销量下降15%,主要是下半年大型拖拉机需求下降 [18] - 二手高马力拖拉机库存上升,对购买决策产生影响 [19] 北美小型农机和园艺 - 预计全年销量下降10%,主要是骑乘式割草机需求下降,受高利率影响 [19] 欧洲 - 预计全年销量下降15%,受农户不确定性增加影响 [20] - 但农场现金流仍维持在10年均值附近,奶牛和畜牧业基本面有望改善 [20] 南美 - 预计全年拖拉机和收割机销量下降15%-20% [21] - 巴西市场受全球产量高企、商品价格下降等因素影响较大 [21] 公司战略和发展方向及行业竞争 - 公司将采取主动的生产管理,在需求下降的情况下适当减产,以保持与零售需求相匹配的库存水平 [40][49] - 公司正加快技术创新,加大精准农业解决方案的推广,提升客户价值 [51][52][53] - 公司在巴西市场推出卫星通信等新技术,获得客户良好反响 [53][84] - 建筑与林业业务保持稳定,基础设施投资和房地产市场需求支撑行业需求 [25][91] 管理层对经营环境和未来前景的评论 - 农业市场整体呈现下行趋势,农户信心下降,导致设备需求下滑 [17][40] - 农产品价格下降、农资成本上升、利率高企等因素对农户利润产生压力 [40][41] - 公司将采取主动减产措施,以保持合理的库存水平,为2025年做好准备 [49][50][63] - 建筑与林业业务保持相对稳定,但面临一定的价格竞争压力 [91] - 公司有信心通过技术创新、成本管控等措施,维持较高的盈利水平 [43][44][95] 问答环节重要的提问和回答 问题1 **Mig Dobre 提问** 公司在PPA和SAP业务中的减产规模有多大?这对收入的影响有多大? [110][111] **Josh Rohleder 回答** - 全球PPA业务减产规模在高个位数,北美大型拖拉机减产幅度略高 [112][113][114] - 公司正在大幅降低2024年末的库存水平,以应对需求下滑 [115][116][117] 问题2 **Kristen Owen 提问** 在减产背景下,公司如何通过成本管控来抵消毛利率下降的影响? [123] **Josh Rohleder 和 Josh Jepsen 回答** - 公司正在采取多项成本管控措施,包括调整生产节奏、优化物流和采购成本等 [124][125][126][127] - 同时公司正在为2025年推出大量新产品做准备,以提升产品竞争力 [128][129] 问题3 **Jerry Revich 提问** 公司对二手设备库存上升的应对措施有多大信心? [154] **Josh Rohleder 和 Cory Reed 回答** - 公司主动减产新机,以消化二手库存,同时利用经销商基金等工具帮助经销商消化二手设备 [156][157][158][159][160][161] - 公司相信随着新技术的推广和农场经营效率的提升,二手设备需求将保持良好 [161][162]