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Why CNH Industrial and Deere Stocks Dropped Today

TheMotleyFool

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Shares of British construction and agricultural equipment manufacturer CNH Industrial (NYSE: CNHI) tumbled 8.7% through 10:30 a.m. ET on Tuesday after the company reported mixed financial results for Q3 2023. Shares of rival Deere (NYSE: DE) fell in sympathy on the news, down about 2.1%.

(Deere reports its own Q3 earnings on Nov. 22.)

Heading into Q3, analysts had forecast CNH would earn $0.43 per share on sales of $5.95 billion. In fact, CNH exceeded that revenue number, reporting $5.99 billion in sales. Earnings, however, fell $0.01 short of estimates at $0.42 per share (GAAP).

Source Fool.com

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