Deere Beats On Q2 Earnings & Revenues, Raises FY17 View

Deere & Company’s (DE – Free Report) second-quarter fiscal 2017 (ended Apr 30, 2017) earnings surged around 59.6% year over year to $2.49 per share. Earnings also beat the Zacks Consensus Estimate of $1.70 by a wide margin of 46.5%.

Operational Update

Net sales of equipment operations (which comprise Agriculture and Turf, Construction and Forestry) came in at $7.260 billion, up 2% year over year. Revenues surpassed the Zacks Consensus Estimate of $7.244 billion.

Price realization had an impact of 2% in the quarter. Foreign-currency rates did not have a material translation effect on net sale. Region wise, equipment net sales decreased 5% in the U.S. and Canada, but increased 14% in the rest of the world. Total net sales (including financial services and others) were $8.287 billion, up 5% year over year.

Deere & Company Price, Consensus and EPS Surprise


Deere & Company Price, Consensus and EPS Surprise | Deere & Company Quote

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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