Deere (DE) Posts Blowout Q4 Results; Guides FY11 Sales Growth
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Price: $86.97 -2.71%
Revenue Growth %: +9.0%
Financial Fact:
Interest expense: 180.1M
Today's EPS Names:
LBIX, ESEA, ISS, More
Revenue Growth %: +9.0%
Financial Fact:
Interest expense: 180.1M
Today's EPS Names:
LBIX, ESEA, ISS, More
Trade DE Now!
Deere & Co. (NYSE: DE) posted better-than-expected fourth-quarter results on Wednesday as the company was able to sell more equipment in the North America and emerging markets to offset the weakness in Europe.
The world's largest manufacturer of farm equipment reported fourth-quarter earnings of $1.07 per share, 12 cents better than the analyst estimate of 95 cents per share.
Revenue for the company rose 35 percent to $7.2 billion in the period from a year earlier, easily beating the analyst estimate of $6.25 billion.
"John Deere's strong performance for the quarter and full year reflects a disciplined approach to executing our business plans and was achieved despite continuing weakness in certain regions and business sectors," said Samuel R. Allen, chairman and chief executive officer. "Although conditions continued to be positive in the U.S. farm sector, and included a highly favorable sales mix of larger equipment, European agricultural markets remained soft."
Looking forward, the company sees full-year 2011 equipment sales up 10 percent to 12 percent. Net income attributable to Deere is anticipated to be approximately $2.1 billion for the full year 2011.
Deere's revenue guidance range suggests revenue of $25.9-$26.4 billion, versus the consensus of $25.86 billion.
UPDATE: Click here to see some highlights from Deere's Q4 conference call.
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The world's largest manufacturer of farm equipment reported fourth-quarter earnings of $1.07 per share, 12 cents better than the analyst estimate of 95 cents per share.
Revenue for the company rose 35 percent to $7.2 billion in the period from a year earlier, easily beating the analyst estimate of $6.25 billion.
"John Deere's strong performance for the quarter and full year reflects a disciplined approach to executing our business plans and was achieved despite continuing weakness in certain regions and business sectors," said Samuel R. Allen, chairman and chief executive officer. "Although conditions continued to be positive in the U.S. farm sector, and included a highly favorable sales mix of larger equipment, European agricultural markets remained soft."
Looking forward, the company sees full-year 2011 equipment sales up 10 percent to 12 percent. Net income attributable to Deere is anticipated to be approximately $2.1 billion for the full year 2011.
Deere's revenue guidance range suggests revenue of $25.9-$26.4 billion, versus the consensus of $25.86 billion.
UPDATE: Click here to see some highlights from Deere's Q4 conference call.
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