Deere & Co. (NYSE: DE) managed to beat estimates this morning due in part to U.S. strength. Net income was up 46% to $1.62 EPS (or $669.6 million) as sales rose 20% to $8.61 billion. Thomson Reuters had estimates of $1.43 EPS and $7.87 billion in revenue. The heavy machinery company projected that 2012 earnings should be roughly $3.2 billion. Investors are trading Deere up this morning to over $74 after a close of $71.92 on Tuesday, but shares have already bounced about 20% from the October lows.
Deere Sails Past Estimates (DE)
By
Jon C. Ogg
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About the Author
Jon C. Ogg →
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.
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