Deere Climbs On Surge In Q1 Profit

Deere & Co. (DE) shares are gaining more than 5 percent on Friday morning trade after the company reported 117 percent increase in first quarter earnings supported by 32 percent growth in revenues.

The company's quarterly earnings grew to $1959 billion from $903 billion in the prior year. On a per-share basis, earnings were $6.55, up from $2.92 last year.

Revenue for the first quarter increased to $12.65 billion from $9.57 billion a year ago.

Looking ahead to fiscal 2023, the company expects net income in the range of $8.75 - $9.25 billion.

Currently, shares are at $425.97, up 5.71 percent from the previous close of $402.96 on a volume of 1,128,501.

For comments and feedback contact: editorial@rttnews.com

Business News

Invest in the Best Biotech Stocks by Subscribing to RTT Biotech Investor.
Follow RTT