Edition:
United States

Deere & Co Q3 earnings per share $1.97


Friday, 18 Aug 2017 06:30am EDT 

Aug 18 (Reuters) - Deere & Co :Deere announces third-quarter earnings of $642 million.Q3 sales $7.808 billion versus I/B/E/S view $6.92 billion.Sees FY sales up 10 percent.Q3 earnings per share $1.97.Q3 earnings per share view $1.95 -- Thomson Reuters I/B/E/S.Agriculture & turf sales increased 13 percent for quarter​.Company equipment sales are projected to increase about 10 percent for fiscal 2017 and be up about 24 percent for Q4.Construction and forestry sales increased 29 percent for quarter​.Deere's worldwide sales of agriculture and turf equipment are forecast to increase by about 9 percent for fiscal-year 2017​.Full-year forecast calls for net income of $2.075 billion​.Net sales and revenues are projected to increase about 11 percent for fiscal 2017 with net income attributable to co of about $2.075 billion.‍Deere's worldwide sales of construction and forestry equipment are forecast to be up about 15 percent for 2017​.Worldwide sales of agriculture and turf equipment are forecast to increase by about 9 percent for fiscal-year 2017​.Included in forecast is a positive foreign-currency translation effect of about 1 percent for full year and about 2 percent in Q4.Full-year 2017 agriculture & turf​ industry sales in EU28 member nations are forecast to be flat to down 5 percent.Industry sales of turf and utility equipment in U.S. and Canada are expected to be about flat for 2017​.Full-year 2017 agriculture & turf Asian sales are projected to be flat to down slightly​.