Deere: raises FY earnings target again, but unheeded
(CercleFinance.com) - On its quarterly results publication, John Deere said that it has raised its FY 2021-22 earnings target to between 7 and 7.
4 billion dollars (compared with 6.7 to 7.1 billion dollars three months ago), including extraordinary items of 220 million dollars.
The farm machinery maker reported net income that is up 17% to 2.1 billion dollars for Q2, i.e. 6.81 dollars per share, with revenue up 11% to just under 13.4 billion dollars.
The group said that the performance reflects continued strong demand, even as it faces supply chain pressures that are weighing on production levels and delivery schedules.
Whatever the metrics, after closing down 1% yesterday, for some reason the market is saying "Oh dear" today, with the share down over 4.5% in pre-market trading.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
4 billion dollars (compared with 6.7 to 7.1 billion dollars three months ago), including extraordinary items of 220 million dollars.
The farm machinery maker reported net income that is up 17% to 2.1 billion dollars for Q2, i.e. 6.81 dollars per share, with revenue up 11% to just under 13.4 billion dollars.
The group said that the performance reflects continued strong demand, even as it faces supply chain pressures that are weighing on production levels and delivery schedules.
Whatever the metrics, after closing down 1% yesterday, for some reason the market is saying "Oh dear" today, with the share down over 4.5% in pre-market trading.
Copyright (c) 2022 CercleFinance.com. All rights reserved.