Deere & Co. (DE) Tops Q4 EPS by 1c

Deere & Co. (NYSE: DE) reported Q4 EPS of $2.14, $0.01 better than the analyst estimate of $2.13. Revenue for the quarter came in at $8.7 billion versus the consensus estimate of $8.53 billion.

Guidance:

Full-year 2020 forecast calls for net income of $2.7 to $3.1 billion, reflecting uncertainties in our equipment operations.

“Despite present challenges, the longer-term outlook for our businesses remains healthy and points to a promising future for Deere,” May said. “We are particularly encouraged by the adoption of precision technologies and believe we are well-positioned to be a leader in the delivery of smarter, more efficient and sustainable solutions to our customers. At the same time, we are committed to the successful execution of our strategic plan and have initiated a series of measures to create a leaner organizational structure that can operate with more speed and agility. We’re confident these steps will lead to improved efficiencies and help the company focus its resources and investments on areas that have the greatest impact on performance.”

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

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