Deere & Co Projects Full-Year Net Income Between $4.5B and $5B
DE sits 31% above its 52-week low of $433.
Summary
Deere & Co has issued full-year net income guidance, projecting a range of $4.5 billion to $5 billion. This guidance provides a critical financial outlook for the company, following a Q1 where net income declined by 24.5% to $656 million. The market will use this guidance to re-evaluate the company's prospects, especially after recent news indicated a significant 30-40% year-over-year drop in North American farm machinery sales in March.
At the time of this announcement, DE was trading at $566.40 on NYSE in the Manufacturing sector, with a market capitalization of approximately $151.4B. The 52-week trading range was $433.00 to $674.19. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.