Deere raises lower end of full-year profit outlook

Earnings
โดย Reuters·US·Read original
Summary · why it matters

Deere, the major U.S. agricultural machinery maker, on the 20th raised the lower end of its full-year net income outlook. Third-quarter results for May through July showed profit rose for the first time in three years, helped by an artificial intelligence-related construction boom and tariff refunds. The latest full-year net income outlook is 4.75 billion to 5 billion dollars, with the lower end raised from the previous 4.5 billion to 5 billion dollars. Third-quarter earnings per share were 5.10 dollars, up from 4.75 dollars a year earlier and above market expectations of 4.70 dollars. Revenue rose 6 percent from a year earlier to 11 billion dollars, exceeding market forecasts of 10.73 billion dollars. Quarterly net sales in the construction and forestry segment increased 18 percent from a year earlier, while the main production and precision agriculture segment fell 6 percent. The company booked 110 million dollars in tariff refunds during the third quarter.

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