DEERE Reports 117.8% YOY Increase in Revenue for Q1 FY2023 with USD 2.0 Billion in Total Revenue.
March 1, 2023
Earnings report
On January 31st 2023, DEERE ($NYSE:DE) reported its first quarter earnings results for FY2023 and announced that its total revenue had increased by 117.8% year-over-year to USD 2.0 billion. This was a remarkable achievement for the company, indicating a strong financial performance. The company also reported a 32.2% year-over-year increase in net income, amounting to USD 12.7 billion. This was a clear indication of the company’s solid financial possibilities and growth strategies.
Overall, DEERE’s first quarter results of FY2023 highlighted the company’s financial stability and future potential. The reported figures demonstrate the effectiveness of their strategies and point to a promising future for the company. Analysts will be keen to see how DEERE performs in the next quarter, but it is likely that the total revenue and net income will remain highly positive.
Stock Price
On Friday, agricultural equipment manufacturer DEERE reported a staggering 117.8% year-over-year increase of total revenue for the first quarter of fiscal year 2023 (Q1 FY2023). The increase was mainly driven by strong global demand for DEERE’s products, with total revenue amounting to USD 2.0 billion for the quarter. In response to the announcement, DEERE’s stock opened at $419.0 and closed at $433.3, representing a 7.5% rise from its prior closing price of $403.0. Analysts believe this achievement is on track to bring the company’s stock price further up, further affirming investor confidence in DEERE’s growth potential. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Deere. More…
| Total Revenues | Net Income | Net Margin |
| 54.94k | 8.19k | 14.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Deere. More…
| Operations | Investing | Financing |
| 6.01k | -8.37k | 2.06k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Deere. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 91.62k | 70.18k | 67.82 |
Key Ratios Snapshot
Some of the financial key ratios for Deere are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.5% | 37.1% | 18.5% |
| FCF Margin | ROE | ROA |
| 3.6% | 30.6% | 7.0% |
Analysis
G o o d W h a l e r e c e n t l y c o n d u c t e d a n a n a l y s i s o f D E E R E ’ s w e l l b e i n g , a c c o r d i n g t o o u r S t a r C h a r t , D E E R E i s q u i t e s t r o n g i n t e r m s o f d i v i d e n d a n d g r o w t h , a s w e l l a s p r o f i t a b i l i t y . I t i s a l s o m e d i u m i n t e r m s o f a s s e t . T h i s m e a n s t h a t D E E R E i s c l a s s i f i e d a s a ‘ G o r i l l a ’ C o m p a n y , a t y p e o f c o m p a n y t h a t h a s a c h i e v e d s t a b l e a n d h i g h r e v e n u e o r e a r n i n g g r o w t h d u e t o i t s s t r o n g c o m p e t i t i v e a d v a n t a g e . F o r i n v e s t o r s t h a t a r e i n t e r e s t e d i n s u c h c o m p a n i e s , D E E R E i s a n i d e a l c h o i c e . T h i s t y p e o f c o m p a n y m i g h t b e a g r e a t c h o i c e f o r i n v e s t o r s l o o k i n g f o r s t a b i l i t y a n d s t e a d y r e t u r n s. More…
Peers
Deere & Co. is an American corporation that manufactures agricultural, construction, and forestry machinery, diesel engines, drivetrains (axles, transmissions, gearboxes) used in heavy equipment, and lawn care equipment. In 2018, it was listed as 87th in the Fortune 500 America’s ranking and was ranked 329th in the global ranking. The company also provides financial services and other related activities. Deere & Co.’s main competitors are CNH Industrial NV, Caterpillar Inc, Hitachi Construction Machinery Co Ltd.
– CNH Industrial NV ($NYSE:CNHI)
CNHI is a world leader in the design and manufacture of agricultural and construction equipment. The company has a market cap of 17.03B as of 2022 and a ROE of 29.84%. CNHI produces some of the world’s most recognizable brands, including Case IH, New Holland, and Steyr. The company’s products are used in a variety of applications, including farming, construction, and landscaping.
– Caterpillar Inc ($NYSE:CAT)
Caterpillar Inc. is a publicly traded company with a market capitalization of 96.9 billion as of 2022. The company designs, manufactures, markets and sells machinery and engines used in construction, mining, and forestry applications worldwide. Caterpillar’s return on equity was 33.83% as of 2022.
Caterpillar is a leading manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. The company also serves the defense, rail, and power generation industries. Caterpillar employs more than 130,000 people worldwide and operates in more than 200 countries.
– Hitachi Construction Machinery Co Ltd ($TSE:6305)
Hitachi Construction Machinery Co Ltd has a market cap of 574.79B as of 2022, a Return on Equity of 13.19%. The company is engaged in the manufacturing and selling of construction and mining equipment, as well as other related products and services. The company has a strong presence in Japan and Asia, and is expanding its operations globally.
Summary
Investment analysis of Deere & Co. shows that their earnings in the latest quarterly report have grown significantly, with a 32.2% year-over-year increase in net income resulting in a total of USD 12.7 billion. This led to a surge in the stock prices, indicating that the company is doing well in terms of performance and profitability. This is an encouraging sign for investors looking to put their money in Deere & Co. as there is potential for strong returns in the near future.
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