Company News: Deere (DE) quarterly earnings beat analysts’ estimate

Market news

16 February 2018

Company News: Deere (DE) quarterly earnings beat analysts’ estimate

Deere (DE) reported Q1 FY 2018 earnings of $1.31 per share (versus $0.61 in Q1 FY 2017), beating analysts' consensus estimate of $1.20.

The company's quarterly revenues amounted to $5.974 bln (-6.7% y/y), missing analysts' consensus estimate of $6.405 bln.

The company issued upside guidance for Q2, projecting Q2 revenues of +30-40% to ~$9.44-10.16 bln (versus analysts' consensus estimate of $9.11 bln). It also raised guidance for FY2018, projecting FY2018 revenues of +29% from +22% to ~$33.39 bln (versus analysts' consensus estimate of $32.25 bln ).

DE rose to $169.30 (+1.49%) in pre-market trading.

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