Deere (NYSE: DE) reported earnings on May 16. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended April 30 (Q2), Deere missed estimates on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue increased and GAAP earnings per share improved significantly.

Margins grew across the board.

Revenue details
Deere reported revenue of $9.41 billion. The 11 analysts polled by S&P Capital IQ predicted sales of $9.66 billion on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $8.91 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $2.61. The 18 earnings estimates compiled by S&P Capital IQ predicted $2.54 per share. GAAP EPS of $2.61 for Q2 were 23% higher than the prior-year quarter's $2.12 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 31.7%, 240 basis points better than the prior-year quarter. Operating margin was 17.9%, 290 basis points better than the prior-year quarter. Net margin was 10.6%, 50 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $9.54 billion.

Next year's average estimate for revenue is $34.27 billion.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 2,695 members rating the stock outperform and 125 members rating it underperform. Among 624 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 600 give Deere a green thumbs-up, and 24 give it a red thumbs-down.

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About the Author

Seth Jayson
Seth Jayson is an advisor on The Motley Fool’s Trends service, overseeing the AI and Spotters segments of the scorecard. Seth closely follows technology companies, particularly hyperscalers and their suppliers. He also stays up to date and recommends companies in homebuilding, specialty online, defense, aerospace, and other sectors. He has spent more than two decades researching, reporting on, and recommending stocks to Motley Fool members. A former Motley Fool member himself, Seth holds a B.A. from Carleton College and two master’s degrees from NYU and the University of Missouri in art history and journalism respectively.
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Deere & Company
NYSE: DE
$654.87
(+0.69%)+$4.49
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Deere's Earnings Beat Last Year's by 23% | The Motley Fool