Friday, February 17, 2017

Deere profits surprise

Deere & Co. profits are higher than expected because the company charged more for its farm equipment.

Net income attributable to Deere fell to $193.8-million US, or 61 cents per share, in the first quarter ended Jan. 29, but that was a lot better than the typical analyst’s forecast of 55 cents per share.

A year ago net income was $254.4-million, or 80 cents per share.

Total net sales fell about 1.5 per cent to $4.70-billion.