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Deere & Co Q4 Profit Declines; Stock Down - Quick Facts

Deere & Co. (DE) reported that its net income attributable to the company for the fourth quarter ended November 3, 2019 declined to $722 million or $2.27 per share, from $785 million or $2.42 per share last year.

Adjusted net income was $2.14, compared to $2.30 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $2.13 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales were $8.70 billion up from $8.34 billion in the previous year. Analysts expected revenues of $8.53 billion. Worldwide net sales and revenues increased 5 percent to $9.896 billion from last year.

Looking ahead for fiscal 2020, the company expects net income attributable to the company to be in a range of $2.7 billion to $3.1 billion.

In Wednesday pre-market trade, DE is trading at $169.74, down $6.97 or 3.94%.

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