MOLINE (dpa-AFX) - (Adds Outlook)
Deere And Co (DE) has lowered its full-year profit outlook. It now expects net income to be about $7 billion for the year, down from the previous outlook of $7.50 billion to $7.75 billion.
Q2 Results:
Deere And Co revealed a profit for second quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line came in at $2.37 billion, or $8.53 per share. This compares with $2.86 billion, or $9.65 per share, in last year's second quarter.
Analysts on average had expected the company to earn $7.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 12.4% to $15.235 billion from $17.387 billion last year.
Deere And Co earnings at a glance (GAAP) :
-Earnings (Q2): $2.37 Bln. vs. $2.86 Bln. last year. -EPS (Q2): $8.53 vs. $9.65 last year. -Revenue (Q2): $15.235 Bln vs. $17.387 Bln last year.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
