Deere Announces Third-Quarter Earnings of $512 Million
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Go back to Deere Announces Third-Quarter Earnings of $512 Million
August 24, 2015 8:22 AM EDT
Piper Jaffray reiterated a Neutral rating on Deere (NYSE: DE), and cut the price target to $80.00 (from $87.00), following the company's 3Q15 earnings report. DE reported higher than expected EPS of $1.53 compared to the Street at $1.44. Management will provide formal FY16 guidance in November.... More
August 21, 2015 7:00 AM EDT
(Updated - August 21, 2015 7:04 AM EDT)
Deere & Co. (NYSE: DE) reported Q3 EPS of $1.53, $0.09 better than the analyst estimate of $1.44. Revenue for the quarter came in at $6.84 billion versus the consensus estimate of $7.17 billion.
Company Outlook & Summary
Company equipment sales are projected to decrease about 21 percent for fiscal 2015 and to be down about 24 percent for the fourth quarter compared with year-ago periods. (Deere previously saw a 19 percent drop in 2015.) Included in the forecast is a negative foreign-currency translation effect of about 4 percent for the full year and 5 percent for the fourth quarter. For... More
