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Shares of Deere rise as financial results exceed expectations
Deere & Company (NYSE: DE) announced financial results on Wednesday for the fourth quarter that ended on October 30, 2022.
The US manufacturer of farm machinery and industrial equipment reported revenue of $15.536 billion for the quarter, which was above analyst forecast of $13.443 billion.
Earnings per share reported at $7.44 per share vs. $7.112 per share expected.
”Deere’s strong performance for both the fourth quarter and full year is a tribute to our dedicated team of employees, dealers, and suppliers throughout the world,” John C. May, CEO of the company said in a statement.
”We’re proud of their extraordinary efforts to overcome supply-chain constraints, increase factory production, and deliver products to our customers,” he added.
The stock was up by around 5% on Wednesday, trading at $441.33.
Deere & Company price targets
Deere & Company is the 84th largest company in the world with a market cap of $132.90 billion.
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Sources: Deere & Company, TradingView, MarketWatch, MetaTrader 5, Benzinga, CompaniesMarketCap
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