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

3 min read | August 21, 2021 04:16 AM AEST | By Sanjeeb Baruah

Google News:

Foot locker (FL), Deere & Co (DE) post strong results, stocks rally — Image source: Vintage Tone,Shutterstock

Recent News

AI Infrastructure Trends Across ASX 100 Technology Leaders

Which ASX Software Stocks Are Turning the AI Wave Into Actual Revenue?

Why ASX 200 Oil and Gas Stay in Focus

Caught in the Tug-of-War: Investing in Oil and Gas During the Energy T...

Make Kalkine Media
My Trusted Source

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.

Also Read: The week ahead: Key economic events to watch

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.

Also Read: Top semiconductor stocks to watch out amid global chip supply shortage

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.

Also Read: Kohl's (KSS), Macy's (M) stocks rally on strong quarterly results

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.

Also Read: 7 oil and gas stocks to explore in times of demand upsurge

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.

Also Read: Why are Sonnet (SONN), Coherus (CHRS) stocks trending today?

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.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.