Deere & Co. (DE) Tops Q2 EPS by 31c

Deere & Co. (NYSE: DE) reported Q2 EPS of $2.11, $0.31 better than the analyst estimate of $1.80. Revenue for the quarter came in at $8.22 billion versus the consensus estimate of $7.76 billion.

Company Outlook & Summary:

Net income attributable to Deere & Company is forecast to be in a range of $1.6 billion to $2 billion for the full year. However, many uncertainties remain regarding the effects of the COVID-19 global pandemic that could negatively affect the company's results and financial position in the future.

“I would like to express my appreciation to the thousands of John Deere employees, dealers and suppliers who have worked tirelessly to keep our operations safe and our customers up and running during this challenging period,” May said. “Deere is well-known for developing strong relationships with a range of stakeholders, which prove extremely valuable in difficult times. We remain committed to offering a full suite of advanced digital tools that give our customers unique capabilities and help them do their work more efficiently and profitably. As a result, we’re confident the company will successfully manage the pandemic’s effects and strengthen its position serving customers in the future.”

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

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