Deere's earnings garner mixed reviews

The company's third-quarter results leave investors cold.

By Motley Fool Aug 14, 2013 4:26PM
Deere (DE) reported earnings Wednesday morning, and investors are less than pleased. Shares were down about 2% after third-quarter results came in.

Deere beat estimates on the top and bottom lines, including a record $997 million in earnings. However, the company provided a middling outlook for the rest of the fiscal year. Deere, known for its iconic tractors and lawnmowers, is struggling in forestry and construction sales, posting an 11% decline. The company expects to finish the 2013 fiscal year with a 8% decline in construction sales, while agriculture sales will end with an approximately 7% gain.
Corn field © Bob Rashid, Brand X, CorbisThe stock itself has had an underwhelming year, growing less than 3% compared to the S&P 500's 20% leap. Motley Fool industrials analyst Isaac Pino explains that while there were negative aspects to this report, Deere expects double-digit growth in Latin American sales. As these countries continue to develop, Isaac sees Deere's stock benefiting in the long term.

The Motley Fool’s 12 top stocks for 2013 are now available! So if you’re tired of picking stocks out of a hat and hoping that one skyrockets, check out Stocks 2013: The Investor’s Guide to the Year Ahead. It’s The Motley Fool’s current top report, and includes Chief Investment Officer Andy Cross’s TOP STOCK FOR 2013! This under-the-radar company is the secret winner in the war for the last precious drops of oil on the planet. Find out what it is and how YOU can take advantage of this unseen company’s huge profits in this special, 100% FREE report, just click here now

MSN Money on Twitter and Facebook

Like us on Facebook: MSN Money and Top Stocks

Follow us on Twitter: @msn_money and @topstocksmsn

0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

116
116 rated 1
275
275 rated 2
482
482 rated 3
656
656 rated 4
643
643 rated 5
650
650 rated 6
638
638 rated 7
485
485 rated 8
281
281 rated 9
127
127 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
AAPLAPPLE Inc10
ATVIACTIVISION BLIZZARD Inc10
CTSHCOGNIZANT TECHNOLOGY SOLUTIONS10
FOXATWENTY-FIRST CENTURY FOX Inc CLASS A10
HPQHEWLETT PACKARD CO10
More

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.