Shares of Deere & Co. undefined gained 0.6% in premarket trading Friday, after the agricultural and construction equipment company reported big fiscal...
Shares of Deere & Co. gained 0.6% in premarket trading Friday, after the agricultural and construction equipment company reported big fiscal first-quarter profit and sales beats, amid strength in its Production & Precision Ag business. Net income for the quarter to Jan. 30 rose fell to $903 million, or $2.92 a share, from $1.22 billion, or $3.87 a share, in the year-ago period. The FactSet consensus for earnings per share was $2.27. Sales grew 5.0% to $9.
92 a share, from $1.22 billion, or $3.87 a share, in the year-ago period. The FactSet consensus for earnings per share was $2.27. Sales grew 5.0% to $9.57 billion, above the FactSet consensus of $8.28 billion. Cost of sales jumped 15.3% to $6.70 billion given production issues related to the delayed ratification of a labor union contract and"persistent challenges" posed by supply chain issues and the COVID-19 pandemic. Production & Precision Ag sales rose 9% to $3.
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