Deere & Co. (DE) Tops Q4 EPS by 10c
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EPS Growth %: -18.5%
Financial Fact:
Net Income: 488.6M
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Deere & Co. (NYSE: DE) reported Q4 EPS of $1.57, $0.10 better than the analyst estimate of $1.47. Revenue for the quarter came in at $8.02 billion, may not compare to the consensus estimate of $6.99 billion.
Company Outlook & Summary
Company equipment sales are projected to increase by about 22 percent for fiscal 2018 and by about 38 percent for the first quarter compared with the same periods of 2017. Included in the forecast is a positive foreign-currency translation effect of about 2 percent for the year and about 3 percent for the first quarter. Net sales and revenues are projected to increase about 19 percent for fiscal 2018, with net income attributable to Deere & Company of about $2.6 billion.
The acquisition of the Wirtgen Group, expected to close in December 2017, is forecast to contribute about $3.1 billion in net sales in fiscal 2018. Wirtgen is expected to add about 12 percent to Deere’s sales for the full year and about 6 percent for the first quarter in comparison with 2017. After estimated expenses for purchase accounting and transaction costs, Wirtgen is expected to contribute about $75 million to operating profit and about $25 million to net income in fiscal 2018.
(Updated)
For earnings history and earnings-related data on Deere & Co. (DE) click here.
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