Deere & Company is a prominent manufacturer of agricultural, construction, and forestry equipment, renowned for its iconic green and yellow machinery. The company provides a wide range of products including tractors, harvesters, and engines, as well as precision agriculture technologies that enhance farming efficiency and productivity. In addition to equipment, Deere offers financial services and supports sustainable practices in agriculture. With a commitment to innovation, the company plays a crucial role in advancing modern farming and construction capabilities, serving customers globally.
Looking back on agricultural machinery stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Lindsay (NYSE:LNN) and its peers.
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Titan International (NYSE:TWI) and the best and worst performers in the agricultural machinery industry.
SiteOne has been treading water for the past six months, recording a small return of 0.7% while holding steady at $152.92. The stock also fell short of the S&P 500’s 13% gain during that period.
Even though Northrop Grumman’s stock ($487.50 per share) has gained 7% over the last six months, it has lagged the S&P 500’s 13.4% return during that period. This might have investors contemplating their next move.
Over the last six months, Manitowoc’s shares have sunk to $10.56, producing a disappointing 13.2% loss - a stark contrast to the S&P 500’s 13.4% gain. This was partly driven by its softer quarterly results and might have investors contemplating their next move.
Deere & Co reported robust fourth-quarter fiscal 2024 results, beating earnings and revenue estimates. Shares of Deere gained 8% at the close following the results. This has put ETFs with the largest allocation to this farm equipment giant in focus.
Shares of agricultural and construction machinery company Deere (NYSE:DE) jumped 8.5% in the afternoon session after the company reported impressive third-quarter results that exceeded analysts' revenue and EPS estimates. Looking ahead, the company initiated fiscal 2025 guidance, calling for revenues down 10-15% year on year. While this may sound like a negative, it does show that end markets are not getting worse and may be reaching a trough. Zooming out, we think this was a good quarter with guidance showing that demand may be hitting a bottom in 2025 and poised for an uptick thereafter, especially if themes like reshoring and industrial automation become more real.
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Agricultural and construction machinery company Deere (NYSE:DE) beat Wall Street’s revenue expectations in Q3 CY2024, but sales fell by 27.7% year on year to $11.14 billion. Its GAAP profit of $4.55 per share was 15.9% above analysts’ consensus estimates.
Honeywell has followed the market’s trajectory closely, rising in tandem with the S&P 500 over the past six months. The stock has climbed 11.1% to $226 per share while the index has gained 10.8%.
