“Deere (DE) FY 4Q21 EPS of $4.12 vs. Cons of $3.98 and Jef at $3.35. Sales and margins were slightly below the street but beat our numbers (we recently cut to account for the strike, but most analysts had not). Higher other expense appears to account for the beat vs consensus, but DE weathered the strike with minimal impact. The mid-point of F22outlook of $6.75bn in Net Income (~$21.50-21.85 implied EPS depending on share repo) compares to Consensus of $21.65 in EPS,” noted Stephen Volkmann, equ
“Despite positive secular demand fundamentals within both the Ag and Construction businesses we are lowering near-term estimates for Deere (DE) (F4Q21/F1Q22) to better reflect the impact from lost production in the US stemming from supplier bottlenecks and the labour strike,” noted Stephen Volkmann, equity analyst at Jefferies.
Black Friday marks the start of the 2021 holiday season, with retailers offering deep discounts to attract floor traffic and eyeballs