- News & Education
Deere & Co. (DE) reported its fiscal first quarter financial results for the quarter ended January 30, 2022, before the opening bell on Friday.
The American manufacturer of farm machinery and industrial equipment reported revenue of $8.531 billion in the first quarter vs. $8.276 billion expected.
Earnings per share at $2.92 vs. $2.27 per share expected.
”Deere’s performance in the first quarter was impressive given production issues surrounding the delayed ratification of our UAW contract in late November as well as persistent challenges posed by the supply chain and pandemic,” said John C. May, chairman and CEO commented on the latest results.
”These factors led to higher production costs in the quarter. We continue to work closely with key suppliers to manage the situation, enabling our customers to deliver food production and critical infrastructure. We are proud of the extraordinary efforts being taken by our dealers and employees to get products to our customers as soon possible in today’s challenging environment,” May added.
Deere & Co. (DE) chart (Weekly)
The stock was down by around 3% during the trading day on Friday at $368.42 a share.
Here is how the stock has performed in the past year –
Deere & Co. is the 120th largest company in the world with a market cap of $114.40 billion.
You can trade Deere & Co. (DE) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.
Sources: Deere & Co., TradingView, CompaniesMarketCap
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.