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Deere & Company Stock Gains 5% On Quarterly Results

Shares of Deere & Company (DE) is trading at 5% on Wednesday morning after the company reported fourth-quarter results, that trumped Wall Street estimates. DE is currently trading at $367.59, up $18.31 or 5.24%, on the NYSE.

The company's earnings came in at $1.28 billion or $4.12 per share, compared to $0.76 billion or $2.39 per share last year.

Analysts had expected the company to earn $3.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.4% to $11.33 billion from $9.73 billion last year. Analysts had a consensus revenue estimate of $10.44 billion for the quarter.

Looking forward, the company said it expects full-year 2022 net income in a range of $6.5 billion to $7.0 billion, reflecting healthy demand.

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