Deere & Company (NYSE:DE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are flat.
Deere & Company Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $1.65 in the quarter versus EPS of $1.30 in the year-earlier quarter.
Revenue: Rose 0.39% to $6.79 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Deere & Company reported adjusted EPS income of $1.65 per share. By that measure, the company beat the mean analyst estimate of $1.40. It beat the average revenue estimate of $6.72 billion.
Quoting Management: “With our eleventh consecutive quarter of record earnings, John Deere has started 2013 on a positive note and is setting the stage for another successful year,” said Samuel R. Allen, chairman and chief executive officer. “These results are further proof of the adept execution of operating and marketing plans aimed at expanding our global market presence while maintaining a tight grip on costs and assets,” he said. “As a result, Deere remains well-positioned to earn solid profits in today’s fragile global economy and, longer term, to benefit from major trends that we continue to believe hold great promise for the company and its customers and investors.”
Key Stats (on next page)…