5 Stocks in Focus After Posting Their Financial Results

3. Deere & Company (NYSE:DE)

Number of Hedge Fund Holders: 54

Shares of Deere & Company (NYSE:DE) rose over five percent on Wednesday, 24 November 2021, after delivering solid profit and sales for its fiscal fourth quarter. The agricultural machinery and equipment maker earned $4.12 per share in the quarter, well above $2.39 per share in the comparable period of 2020.

In addition, Deere & Company (NYSE:DE) posted revenue of $11.33 billion, up 16 percent versus the year-ago quarter. The results easily surpassed the consensus forecast of $3.91 per share for earnings and $10.46 billion for revenue.

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Looking forward, Deere & Company (NYSE:DE) expects earnings in the range of $6.5 to $7 billion for its fiscal year 2022, in line with the consensus forecast of $6.77 billion.

Commenting on the quarter, CEO John May said in a statement:

“Our results reflect strong end-market demand and our ability to continue serving customers while managing supply-chain issues and conducting contract negotiations with our largest union.”