Deere Reports Mixed Q2 Results, Slashes 2024 Net Income Outlook
Portfolio Pulse from Akanksha Bakshi
Deere & Co (NYSE:DE) reported mixed Q2 2024 results, with a 12% decline in net sales and revenue to $15.235 billion, beating the consensus of $13.281 billion. The company lowered its 2024 net income outlook to $7.00 billion from the prior $7.50 billion-$7.75 billion. DE shares traded lower by 6% premarket.
May 16, 2024 | 12:59 pm
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Deere & Co reported mixed Q2 2024 results with a 12% decline in net sales and revenue, beating the consensus. The company lowered its 2024 net income outlook to $7.00 billion. DE shares traded lower by 6% premarket.
The mixed Q2 results, including a significant decline in net sales and revenue, and the lowered 2024 net income outlook, are likely to negatively impact investor sentiment. This has already been reflected in the 6% premarket drop in DE shares.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100