Play The Worldwide Food Shortage With DE
Farm equipment maker John Deere (DE) reported stellar earnings this morning and the stock is currently +5% in the premarket which would put it right around all time highs if it holds in the cash session. The earnings were superb. DE revenue was +37% and EPS +81% year over year. FY22 net income was $7.1 billion and they are guiding FY23 to $8.0-$8.5 billion. If you do the math that works out to only 15x forward earnings. Clearly the demand for DE’s tractors is sky high as famers face overwhelming demand and DE stands to benefit.