Deere Announces Earnings for Second Quarter

Deere beats Street 2Q forecasts

Deere & Company (NYSE:DE) reported a Q2 profit that increased 62% over last year's comparable period on revenue that was up 2.1%.

Net income was $802.4 million, or $2.49 per share, for the second quarter ended April 30, 2017, compared with $495.4 million, or $1.56 per share, for the second quarter of 2016.

Especially worth noting, sales rose for the first time in 13 quarters due to demand for construction equipment, not to mention those trademark green tractors and other farm machinery. In the same period a year ago, the company reported adjusted EPS of $1.56 on revenues of $7.88 billion.

More news: London City first United Kingdom airport to get remote digital air traffic control

Updated outlook for fiscal 2017: Equipment sales and net sales are projected to increase about 9% (vs.an increase of 4%), while net income is anticipated to be about $2B (vs. $1.5B). "We are seeing modestly higher overall demand for our products, with farm machinery sales in South America experiencing a strong recovery".

Allen also attributes the uptick to the execution of operating plans, the strength of a broad portfolio, and their desire to develop a more agile cost structure. Analysts had forecast earnings of $1.68 with $7.32 billion of equipment sales. As a result, we have raised our forecast and are now calling for significantly higher earnings for the full year.

David McNew/Getty ImagesDeere & Company reported second-quarter earning that were ahead of Wall Street expectations while raising its profit forecast. The consensus 12-month price target was $112.72 before the report.

Related News:

  • Brazil's president may lead a 'walking dead administration'

    Several prominent Brazilian politicians have been charged on grounds of corruption in recent times. Hundreds flocked to the presidential headquarters in the country's capital shouting " Temer out".
    Len McCluskey 'confident' that opinion polls will start to turn for Labour

    Len McCluskey 'confident' that opinion polls will start to turn for Labour

    Mr McCluskey claimed he was not setting a benchmark on which his own support for Mr Corbyn rested. So I believe in these next few weeks we can do it".
    Trump intends to renegotiate NAFTA as early as August

    Trump intends to renegotiate NAFTA as early as August

    Bush, but was submitted to Congress by President Bill Clinton, who cajoled enough Democrats to join with Republicans to back it. NPPC said USA pork exports to Canada and Mexico past year were almost $799 million and nearly $1.4 billion.
  • Comey prepared extensively for his conversations with Trump, report says

    But O'Sullivan said it was not realistic to expect the Trump administration's justice department to charge the sitting President. The Times noted that the conversations prove that Trump's team knew about the investigation earlier than previously said.
    US extends sanctions relief under Iran nuclear deal

    US extends sanctions relief under Iran nuclear deal

    The latest sanctions coincide with the release to Congress of a semi-annual report detailing Iran's human rights abuses . IRAN slapped sanctions on the U.S. yesterday in retaliation for Washington's measures against its missile programme.

    Elon Musk Says Tesla Inc Stock Is Overvalued

    Another worker, Michael Sanchez, said he was excited when he was recruited but ended up with two herniated discs in his neck. There's wasn't much upside, however, in how Michael Sanchez, who is on disability leave, described his workweek.
  • US imposes sanctions on Venezuela Supreme Court

    US imposes sanctions on Venezuela Supreme Court

    Despite its vast oil reserves, Venezuela is suffering chronic shortages of food, medicine and other basic supplies. Trump's administration has repeatedly raised concerns that Maduro is moving toward one-party, authoritarian rule.
    Sharapova receives wild card into pre-Wimbledon event

    Sharapova receives wild card into pre-Wimbledon event

    The remaining Main Draw wild card announcements for Birmingham and our other events will be announced in the coming weeks. Whether that happens now given the LTA's stance remains to be seen.
    US Embassy to Stay in Tel Aviv For Now

    US Embassy to Stay in Tel Aviv For Now

    That policy, that "the Western Wall is in Jerusalem", hasn't changed, a State Department official said following Haley's comments. The Israelis then asked whether a TV crew providing live coverage of the Trump visit could at least continue to film there.
  • '200000 users, 150 countries hit by ransomware'

    '200000 users, 150 countries hit by ransomware'

    Subject to approval, Shona Robison, MSP, health secretary, will make a Parliamentary statement on the attacks today. Britain spends about £145bil (RM807.3bil) a year on health, or about a fifth of its state budget.
    Friday's Iranian presidential election down to a two-man race

    Friday's Iranian presidential election down to a two-man race

    President Donald Trump's repeated denunciations of the Iran nuclear deal could add fuel to charges by hard-liners that Mr. Raisi has spent decades in powerful judicial and backroom positions, including as Iran's prosecutor-general.
    Video shows Chris Cornell's last performance hours before death

    Video shows Chris Cornell's last performance hours before death

    They sold more than 10 million albums in the United States, won two Grammy awards and were nominated for nine. The breakup wasn't anything unusual, Cornell told CNN in 2012.


Most liked

Accused Times Square driver's troubled past included Navy prison
Photo taken on May 18, 2017 shows the scene of a vehicle crash incident at Times Square in New York City, the United States. Several social media users also alleged Mr Rojas was acting on ISIS instructions for vehicle attacks in built-up areas.

Pakistan Tehreek-e-Insaf blames Sharif for ICJ stay of Jadhav execution
She suspected that the government wanted to hand over Jadhav to India and this was the outcome of Jindal's meeting with the PM. The Vienna Convention has provisions for consular access to accused even in cases of terror and espionage, the court said.

Trump's laptop ban on European flights is reportedly 'off the table'
IATA estimates that banning electronics on flights from Europe to the USA would cost travelers more than $ 1 billion . Britain followed with a similar ban applying to incoming flights from six Middle East and North African countries.

The Warriors destroy the Spurs, 136-100
The Warrior bench continued to pour it on, and the game ended with the Warriors just barely pulling out a narrow win: 136-100. Leading the series 2-0, the Warriors head to San Antonio for Game 3 of the Western Conference Finals on Saturday night.

Tom Brady Inks Endorsement Deal With Ashton Martin
The five-time Super Bowl victor , who turns 40 in August, recently told ESPN that he hopes to at least play another five seasons. Aston Martin has announced that they have begun a long-term partnership with National Football League superstar Tom Brady .

SRK admission form: Marks don't matter..
Students should understand that the scenario was different back then. "When it's the King of Bollywood, traffic is a must". Surprisingly, one star has been silent all these while allthough his best friend Karan Johar has been part of it.

Had anticipated India's victory at ICJ: Harish Salve
India can then go to the Security Council, which may then decide upon measures to be taken to give effect to the judgment. The two leaders thanked senior lawyer Harish Salve, who headed a battery of lawyers presenting Indias case at The Hague.

Microsoft President Decries Practice of Weaponizing Software Flaws
French carmaker Renault said its plant in the northern town of Douai would not reopen on Monday as it dealt with the cyber-attack. But some organizations didn't apply it, and others were running older versions of Windows that Microsoft no longer supports.

Here's what to expect from the NEXT Guardians of the Galaxy films
This is unlike the first film which had a faster pace and was great to watch from beginning to end. Speaking to USA Today , the star said: " The first Groot we saw was a freshman in college ".

Syrian Kurds plan drive on ISIS hub
In March 2016, family members of USA personnel stationed at Incirlik were ordered to evacuate amid rising security concerns. Earlier this week, President Donald Trump's administration said it would arm the Kurdish elements of the Democratic Forces.

Exclusive Fernando Alonso interview: "I will finish Indy as a better driver"
That said, Alonso isn't yet thinking about making the move to racing in the United States on a more regular basis. De Ferran will certainly help Alonso in any way he can as he gets him ready for his debut race at the Indy 500.

Justice Department appoints special counsel in Russian Federation investigation
He said he respected the special counsel appointment but also said it "hurts our country terribly". We know that voters who supported President Donald Trump wanted a shake-up in Washington .

Twin bomb blasts rock university of Maiduguri in Nigeria, 1 dead
The bombers at about 23.45 attempted to enter the female hostel, but were stopped by eagle-eyed security men. Two suicide bombers have detonated bombs in the University of Maiduguri (UNIMAID), reports say.

Trump denies asking Comey to stop Flynn probe
Trump said at the press conference he thought the decision to fire Comey would be well received. Congressional committees in the House and the Senate are also conducting investigations.

What we currently know about the global cyberattack
The attack was a reminder that people and businesses should keep their software up to date, or else remain vulnerable, Smith said. Europol said it does not know the motive behind it. "It's hard to imagine what more Microsoft could have done", said King.