Still, equipment net sales in the USA and Canada fell 5% for the quarter as global sales increased 14%. "We are seeing modestly higher overall demand for our products, with farm machinery sales in South America experiencing a strong recovery", said Samuel Allen, the Deere chairman and chief executive. Analysts had forecast earnings of $1.68 with $7.32 billion of equipment sales. Shares rose 7% in premarket trading as the company topped profit expectations in its second quarter. Based on what Deere said this morning about its own third-quarter estimates, expect these numbers to rise in the next few days.
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The stock symbol {{StockChart.Ric}} does not existDeere & Co (DE.N) reported on Friday a bigger-than-expected quarterly profit, as sales rose for the first time in 13 quarters on improving demand for its farm and construction equipment. Analysts on average were expecting earnings of US$1.68 cents per share on revenue US$7.32 billion, according to Thomson Reuters I/B/E/S Deere now expects fiscal 2017 net income attributable to the company to be about US$2 billion, up from US1.5 billion previously. Net income attributable to Deere rose to US$802.4 million, or US$2.49 cents per share, in the second quarter ended April 30 from US$495.4 million, or US$1.56 cents per share, a year earlier. Shares of Deere, which has cut jobs and lowered production due to declining demand for its trademark green tractors and harvesting combines, were up 7.3 per cent at $120.30 in premarket trading.
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collected by :Jack Luxor
referring to
The stock symbol {{StockChart.Ric}} does not existDeere & Co (DE.N) reported on Friday a bigger-than-expected quarterly profit, as sales rose for the first time in 13 quarters on improving demand for its farm and construction equipment. Analysts on average were expecting earnings of US$1.68 cents per share on revenue US$7.32 billion, according to Thomson Reuters I/B/E/S Deere now expects fiscal 2017 net income attributable to the company to be about US$2 billion, up from US1.5 billion previously. Net income attributable to Deere rose to US$802.4 million, or US$2.49 cents per share, in the second quarter ended April 30 from US$495.4 million, or US$1.56 cents per share, a year earlier. Shares of Deere, which has cut jobs and lowered production due to declining demand for its trademark green tractors and harvesting combines, were up 7.3 per cent at $120.30 in premarket trading.
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collected by :Jack Luxor
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