Farm and construction machinery maker Deere & Co. (DE) said its second-quarter net income attributable to the company grew to $1.06 billion, or $2.61 per share, from $904.3 million, or $2.12 per share last year. On average, 17 analysts polled by Thomson Reuters expected earnings per share of $2.53 for the quarter. Analysts' estimates typically exclude one-time items.
Total net sales of the equipment operations were $9.405 billion for the quarter, compared with $8.33 billion in the same period prior year, up 13%. Analysts estimated revenues of $9.70 billion for the quarter. Sales included price realization of 5 percent and an unfavorable currency-translation effect of 2 percent for the quarter, the company added. Worldwide net sales and revenues went up 12 percent to $10.01 billion for the latest quarter.
For the full year, net income attributable to Deere & Co. is now anticipated to be around $3.350 billion.
Company equipment sales are projected to increase by nearly 15 percent for fiscal 2012 and by about 25 percent for the third quarter compared with the year-ago period. Included is an unfavorable currency-translation impact of some 3 percent for the year and 4 percent for the third quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.