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Deere & Company Q2 Profit Tops Estimates; Issues Full Year Earnings Guidance

Deere & Company (DE) reported second quarter earnings per share of $2.11 compared to $3.52, prior year. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $1.80 for the quarter. Analysts' estimates typically exclude special items.

Second quarter worldwide net sales and revenues decreased 18 percent, to $9.25 billion Analysts expected revenue of $7.76 billion for the quarter. Net sales of the equipment operations were $8.224 billion, compared to $10.273 billion prior year.

For the full year, the company projects net income attributable to Deere & Company in a range of $1.6 billion to $2 billion.

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