Farm and construction machinery maker Deere & Co. (DE) posted higher third-quarter net income attributable to the company of $788.0 million, or $1.98 per share, compared with $712.3 million, or $1.69 per share, last year. On average, 18 analysts polled by Thomson Reuters expected earnings per share of $2.31 for the quarter. Analysts' estimates typically exclude one-time items.
Worldwide net sales and revenues went up 15 percent, to $9.59 billion for the recent quarter, with net sales of the equipment operations rising to $8.930 billion, from $7.722 billion in the prior-year quarter. Analysts estimated revenues of $9.53 billion for the quarter.
Looking ahead, company equipment sales are projected to increase by about 13 percent for both fiscal 2012 and the fourth quarter compared with the same periods a year ago. Included is an unfavorable currency-translation impact of about 3 percent for the year and about 4 percent for the fourth quarter. For the full year, net income attributable to Deere & Company is now anticipated to be about $3.1 billion.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.