Deere earnings beat forecasts, but guidance disappoints
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Deere & Company reported better-than-expected quarterly earnings, but its guidance fell short of forecasts due to ongoing business investments. The company's net income for the fiscal fourth quarter was $1.245 billion, a 47% decrease from the previous year.
November 21, 2024 | 1:15 pm
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Deere & Company reported better-than-expected earnings, but its guidance was lower than anticipated due to ongoing investments. Net income decreased by 47% year-over-year.
The positive earnings surprise is offset by disappointing guidance, leading to a neutral short-term impact on the stock price. The significant year-over-year decline in net income also tempers investor enthusiasm.
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RELEVANCE 100