Deere: Fiscal 3Q Earnings Snapshot
Aug. 17, 2018
MOLINE, Ill. (AP) _ Deere & Co. (DE) on Friday reported fiscal third-quarter profit of $910.3 million.
On a per-share basis, the Moline, Illinois-based company said it had profit of $2.78. Earnings, adjusted for pretax gains, were $2.59 per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.77 per share.
The agricultural equipment manufacturer posted revenue of $10.31 billion in the period. Its adjusted revenue was $9.29 billion, beating Street forecasts. Five analysts surveyed by Zacks expected $9.17 billion.
Deere shares have fallen 12 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 6 percent. The stock has risen 8.5 percent in the last 12 months.