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Deere & Co. (DE) Tops Q4 EPS by 26c

November 26, 2014 7:01 AM EST

Deere & Co. (NYSE: DE) reported Q4 EPS of $1.83, $0.26 better than the analyst estimate of $1.57. Revenue for the quarter came in at $8.04 billion versus the consensus estimate of $7.73 billion.

"John Deere has completed another year of solid performance in spite of weaker conditions in the global farm sector, which caused sales and earnings to decline from the record totals of 2013," said Samuel R. Allen, chairman and chief executive officer. "The slowdown has been most pronounced in the sale of large farm machinery, including many of our most profitable models. Nevertheless, our success managing costs and assets and establishing a broad-based business lineup has allowed us to deliver strong results and remain in a sound financial condition."

Further, Allen noted that the company produced healthy levels of cash flow for the year, much of which was returned to investors in the form of dividends and share repurchases. Dividends and buybacks in 2014 totaled a record $3.5 billion.

Company Outlook & Summary

Company equipment sales are projected to decrease about 15 percent for fiscal 2015 and to be down about 21 percent for the first quarter compared with year-ago periods. For fiscal 2015, net income attributable to Deere & Company is anticipated to be about $1.9 billion.

For earnings history and earnings-related data on Deere & Co. (DE) click here.



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