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Deere tops 1Q profit forecasts

Published by Business Insider on Fri, 19 Feb 2016


MOLINE, Ill. (AP) ' Deere & Co. (DE) on Friday reported fiscal first-quarter profit of $254.4 million.The Moline, Illinois-based company said it had net income of 80 cents per share.The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.The agricultural equipment manufacturer posted revenue of $4.77 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $4.79 billion.Deere shares have climbed slightly more than 5 percent since the beginning of the year, while the Standard & Poor's 500 index has decreased 6 percent. The stock has fallen 13 percent in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DE at http://www.zacks.com/ap/DE_____Keywords: Deere, Earnings ReportJoin the conversation about this story
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