Deere Stock Pops On Upbeat Q2 And FY23 Guidance Boost
Portfolio Pulse from Anusuya Lahiri
Deere & Company reported Q2 FY23 net sales and revenue growth of 30% YoY to $17.39 billion, beating consensus estimates. The company also raised its FY23 guidance for Production & Precision Ag, Small Ag & Turf, and Construction & Forestry net sales growth and price realization.
May 19, 2023 | 12:35 pm
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POSITIVE IMPACT
Deere & Company's Q2 FY23 revenue growth and raised FY23 guidance for key segments positively impact its stock price.
Deere & Company reported a 30% YoY increase in Q2 FY23 net sales and revenue, beating consensus estimates. The company also raised its FY23 guidance for key segments, including Production & Precision Ag, Small Ag & Turf, and Construction & Forestry. This positive news is likely to drive the stock price up in the short term, as evidenced by the 3.21% increase in premarket trading.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100