This Week in Business: Dick’s, Deere earnings and home sales
Dick’s Sporting Goods
Dick’s Sporting Goods reports its third-quarter sales and profit on Tuesday.
Wall Street analysts forecast that Dick’s earned $2.45 per share on sales of $2.94 billion. Those number would represent a small decline from last year’s third quarter. Dick’s shares lost nearly a quarter of their value in August after the Pennsylvania company missed second-quarter profit targets, which it blamed on theft.
Home sales
The National Association of Realtors on Tuesday reports data on existing home sales in October
Analysts forecast that home sales fell for the fifth month in a row amid surging mortgage rates and a near record-low level of properties on the market. Sales sank 15.4% compared with the same month last year and are down 21% through the first nine months of the year versus the same period in 2022.
Existing home sales, in millions, seasonally adjusted annual rate:
May: 4.30
June: 4.16
July: 4.07
Aug.: 4.04
Sept.: 3.96
Oct. (est.): 3.90
Source: FactSet
Deere & Co.
Deere reports its latest financial results before the bell on Wednesday.
Deere shares are down nearly 12% this year, with much of the losses coming in May after the heavy equipment manufacturer reported it was having trouble meeting demand due to supply chain constraints. Analysts are forecasting that Deere earned $7.46 per share in fourth quarter on $13.6 billion in sales. In the same period a year ago, Deere posted profit-per-share of $7.44 on revenue of $14.4 billion.