Deere & Co. (DE) Tops Q3 EPS by 2c, Offers Outlook

Deere & Co. (NYSE: DE) reported Q3 EPS of $1.97, $0.02 better than the analyst estimate of $1.95. Revenue for the quarter came in at $6.83 billion versus the consensus estimate of $6.92 billion.

Company Outlook & Summary

Company equipment sales are projected to increase about 10 percent for fiscal 2017 and be up about 24 percent for the fourth quarter compared with the same periods of 2016. Included in the forecast is a positive foreign-currency translation effect of about 1 percent for the full year and about 2 percent in the fourth quarter. Net sales and revenues are projected to increase about 11 percent for fiscal 2017 with net income attributable to Deere & Company of about $2.075 billion.

"Deere's ability to deliver consistently strong financial results is proof of our success building a more durable business model," Allen said. "We are continuing to find ways to make our operations more efficient and profitable while providing even more value to our global customers. As a result, we\'re confident Deere is well-positioned to continue its strong performance and to fully capitalize on the world\'s increasing need for advanced machinery and services in the future."

For earnings history and earnings-related data on Deere & Co. (DE) click here.

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