Filed under: Earnings reports, Good news, Deere and Co (DE), Commodities, AgricultureShares of Deere & Co. (NYSE: DE) rose $1.85 to $146.80 after the company reported Q4 EPS results above the consensus estimate.
Deere, the world's largest agricultural machinery company, reported Q4 EPS of $1.88, well above the Reuters consensus estimate of $1.54. Deere earned $1.20 in Q4 2006. The company reported Q4 revenue of $6.12 billion, compared to the Reuters consensus estimate of $5.24 billion.
Deere said profits from tractors, harvesters and combines almost tripled to $388 million on strong demand for advanced machinery from Brazil and Eastern Europe. In addition, the company said higher U.S. farm incomes helped boost North American sales of tractors and combines. Continue reading Deere s
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