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

Market news

18 May 2018

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

Deere (DE) reported Q2 FY 2018 earnings of $3.14 per share (versus $2.14 in Q2 FY 2017), missing analysts' consensus estimate of $3.33.

The company's quarterly revenues amounted to $9.747 bln (+34.3% y/y), generally in-line with analysts' consensus estimate of $9.828 bln.

The company issued upside guidance for Q3, projecting Q3 equipment sales of ~$9.2 bln (+35% y/y) versus analysts' consensus estimate of $8.84 bln. It also raised guidance for FY 2018, projecting FY18 equipment sales of ~$33.65 bln (+30% y/y) versus analysts' consensus estimate of $33.55 bln.

DE fell to $146.50 (-0.21%) in pre-market trading.

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