Deere & Co. (DE) – Bleak unit sales outlook

Deere & Co. (DE) (Q3FY23)

Stock Performance: Over the past 3 years, Deere & Co generated returns of 57% where the price surged from $238.17 in Oct 19, 2020 to $373.57 in Oct 24, 2023. The stock had a 200-Day Moving Average of $400.71 and a 50-Day Moving Average of $393.83.

In the past 1 year, DE delivered returns of -3.1% where the stock price decreased from $385.89 in Oct 24, 2022 to $373.57 in Oct 24,2023. The stock had a 52 Week High of $450 and a 52 Week Low of $345.55.

Over the past 3 months, DE generated returns of -14.5% where the stock price decreased from $436.93 in Jul 21, 2023 to $373.57 in Oct 24, 2023.

Quarter Performance: In Q3FY23, DE’s revenue grew by 33% to $17.4bn from $13.04bn in Q3FY22 and the COGS increased by 21% to $10.7bn from $8.8bn in the same period.

Guidance: For FY23, DE expects its net income to be in the range of $9.75bn to $10bn and an effective tax rate in the range of 21% to 23%. Net operating cash flow is expected to be in the range of $10.5bn to $11bn in FY23.

Highlights

In Small Ag and turf, industry sales in the U.S. and Canada is expected to be down between 5% and 10%, as strength for midsized equipment continues to be offset by weaker consumer-oriented products, which have been pulled down in part by high-interest rates.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– Economic Value Added Analysis
– P/E Analysis
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10 Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– Segment Performance
– Key Metrics
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Stock Price Performance

Crispidea Coverage

No of Pages: 33

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