Deere & Co Reports Q3 EPS Miss, Revenues Slightly Better 
<p><a href='https://financialmodelingprep.com/financial-summary/DE'>Deere & Company (NYSE:DE)</a> reported its Q3 results, with EPS of $6.16 coming in worse than the Street estimate of $6.64. Revenue was $13 billion, slightly better than the Street estimate of $12.96 billion.</p>
<p>For the full 2022-year, the company expects net income to be in the range of $7.0-$7.2 billion.</p>
<p>According to the analysts at Oppenheimer, the revenue beat demonstrated the company's execution in ramping production, while the bottom-line miss and narrowed net income guidance reflected persistent cost inflation. </p>
<p>While execution remains at the fore, the analysts see sustained production rates, strong pricing, and improved raw material cost inflation establishing a favorable backdrop coming into 2023. The analysts believe that despite the later-stage replacement cycle, agriculture represents one of the few end markets positioned for sustained earnings growth in 2023, and is more resilient in a potential recession. The analysts raised their price target on the company’s shares to $415 from $365, while maintaining their Outperform rating.</p>

NYSE:DE