Loading...
•
Aug 02, 2020
Deere Q3 2020 Earnings Report
Net income reached $811 million and operating margins reached 14.6% due to strong execution amidst the global pandemic. The yearly net income forecast was increased to about $2.25 billion.
Key Takeaways
Deere & Company reported a net income of $811 million for the third quarter ended August 2, 2020, with worldwide net sales and revenues decreasing by 11 percent to $8.925 billion.
Operating margins reached 14.6% due to strong execution in face of global pandemic.
Yearly net income forecast increased to about $2.25 billion.
New operating model taking shape.
Net sales and revenues decreased 11%.
Revenue by Segment
Forward Guidance
Net income attributable to Deere & Company is forecast to be about $2.25 billion for the full year.
Challenges Ahead
- Many uncertainties remain regarding the effects of the global pandemic that could negatively affect the company's results and financial position in the future.
- The company has announced broad employee-separation programs that will be completed during the fourth quarter in support of its strategy to create a leaner, more agile organization.
- The programs’ total pretax expense included in the forecast is about $175 million with estimated annual savings of $175 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...