Commodities & Metals
Deere Beats Earnings, Shares Indicated Lower (DE)
Published:
Deere(NYSE: DE) posted earnings at $0.83 EPS versus the First Call estimate of $0.78 EPS. Its revenues rose 17.5% from Q4-2006 to $5.2 Billion versus $5.07 Billion consensus.
As far as guidance, Deere noted that equipment sales should increase by about 17% for full-year in 2008 and should be up approximately 23% for the second quarter. Deere’s net income is forecast to be about $2.2 billion for the year and in a range of $700 million to $725 million for the second quarter. The company did realize gains from currency of roughly 3% of the sales increase for both periods.
Deere shares closed up over 2% yesterday to $86.48 and shares are down roughly the same amount in early pre-market trading at $84.25. The 52-week trading range is $51.26 to $94.77.
Jon C. Ogg
February 13, 2008
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
