Deere Tops Q3 Earnings Forecast, Boosts 2020 Profit Outlook

Deere & Co.  (DE) – Get Report posted stronger-than-expected third quarter earnings Friday, and improved its full-year forecasts, as cost cutting and stabilizing farm sales supported the industrial equipment group’s bottom line.

Deere said adjusted earnings for the three months ending on August 2 were pegged at $2.57 per share, down 8.5% from the same period last year but firmly ahead of the Street consensus forecast of $1.25 per share . Group revenues, Deere said, fell 11% from last year to $8.925 billion, again besting analysts’ forecasts of a $6.703 billion tally.

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