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John Deere earnings slide but weathering COVID-19 better than expected, say analysts

from Real Agriculture

John Deere earnings slide but weathering COVID-19 better than expected, say analysts Real Agriculture Although revenues and profits were lower in the second quarter at John Deere, the stock market took a “not as bad as I thought” approach recently. At press time, stock was trading higher on the news. According to CNBC, the construction equipment maker reported fiscal second-quarter earnings of $2.11 per share, compared to the consensus estimate of $1.62 a share. Revenue beat estimates as well. Higher debt, cost cutting, and reduction in capital spending helped the company counter slower sales. READ MORE

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