Shares of iconic agriculture equipment maker Deere (DE) plunged violently (more than 14%) following the release of some mixed second-quarter earnings results that saw revenues rise 11% year over year to $13.37 billion. Undoubtedly, there was a bit of margin pressure that likely induced such a reaction. In the following trading sessions, Deere stock eventually regained most of the ground lost as investors had a chance to digest the quarter. Though numerous headwinds weighed down the quarter, management has continued to do a pretty good job of managing costs. Thus far, demand for Deere equipment has been quite robust coming out of the pandemic.
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