Deere & Company (NYSE:DE), doing business as John Deere, is expected to report strong sales and earnings growth when it hands down its fiscal third quarter 2023 financial results before the market opens on Friday, August 18.
The agricultural and other heavy machinery manufacturer is forecast to report sales of $14.2 billion, according to Zacks Consensus Estimate, up 9.4% from sales of $13 billion in the same quarter last year.
Earnings per share are expected to grow by 31.8% from $6.16 in the year-ago quarter to $8.12.
Agricultural commodity prices above the historical average prompting agricultural equipment spend, easing supply chain challenges, favorable price realization and higher shipment volumes/sales mix are expected to have contributed to John Deere’s 3Q performance, according to Zacks.
Deere & Company (NYSE:DE) shares traded slightly lower on Thursday afternoon ahead of its results, down 1.2% at US$418.89.
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