Foot locker (FL), Deere & Co (DE) post strong results, stocks rally - Kalkine Media

August 20, 2021 11:16 AM PDT | By Sanjeeb Baruah
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Highlights

  • Total sales of Foot Locker Inc. (NYSE: FL) rose by 9.5% YoY in Q2, 2021.
  • Net income of Deere & Company (NYSE: DE) jumped 106% YoY in Q3, 2021.
  • DE reported net sales of US$11.5 billion in the quarter.

Stocks of retailer Foot Locker Inc. (NYSE: FL) and equipment maker Deere & Company (NYSE: DE) were trending on Wall Street after reporting solid earnings on Friday.

The FL stock was priced at US$58.98, up 8.44 percent, at 8:42 am ET, while DE stock traded at US$363.65, up 1.30 percent, at 8:43 ET.

Here we explore the quarterly earnings of the two companies.

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Foot Locker Inc. (NYSE: FL)

The total sales of the New York-based company rose by 9.5 percent YoY to US$2.27 billion in Q2, 2021. Its income from operations came in at US$264 million compared to US$69 million in the year-ago quarter.

The company’s net income was US$430 million or US$4.09 per diluted share compared to US$45 million or US$0.43 per diluted share in the year-ago quarter.

On a non-GAAP basis, the American retailer earned US$2.21 per share, up over 200 percent compared to US$0.71 per share in Q2 of fiscal 2020. The stock gained 39.1 percent YTD.

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Its market cap is US$5.63 billion, the P/E ratio is 8.99, and the forward P/E one year is 9.31. The earnings per share (EPS) is US$6.05. The highest and lowest stock price of the firm for the last 52 weeks was US$66.71 and US$26.90. Its share volume on August 19 was 2,398,881.

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Deere & Company (NYSE: DE)

The Illinois-headquartered company’s worldwide net sales and revenue surged 29 percent YoY to US$11.5 billion in Q3, 2021, compared to US$8.9 billion in the year-ago quarter.

Its net income came in at US$1.6 billion or US$5.32 per diluted share, compared with US$811 million or US$2.57 per diluted share in Q3, 2020.

In the equipment segment, net sales rose 32 percent YoY to US$10.4 billion. Its net income was US$1.4 billion compared to US$628 million in the corresponding period of the previous year.

DE expects its full-year earnings to be in the range of US$5.7 billion to US$5.9 billion. It had recently acquired the autonomous tractor maker Bear Flag Robotics for US$250 million.

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Its market cap is US$111.98 billion, the P/E ratio is 24.74, and the forward P/E one year is 19.93. The earnings per share (EPS) is US$14.51. The highest and lowest stock price of the firm for the last 52 weeks was US$400.34 and US$189.38. Its share volume was 2,281,004 on August 19.

The stock jumped 34.13 percent YTD.

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Bottomline

Both the stocks rallied after their strong quarterly results. The economic recovery and vaccinations are helping companies to beef up their businesses after the devastating impact from covid last year. In addition, increased consumer demand has helped boost their revenue during the period.


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