Deere beats Street 4Q forecasts

Deere & Co. (DE) on Wednesday reported fiscal fourth-quarter net income of $510.3 million.

The Moline, Illinois-based company said it had profit of $1.57 per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.

The agricultural equipment manufacturer posted revenue of $8.02 billion in the period. Its adjusted revenue was $7.09 billion, also topping Street forecasts. Five analysts surveyed by Zacks expected $6.91 billion.

For the year, the company reported profit of $2.16 billion, or $6.68 per share. Revenue was reported as $25.89 billion.

Deere shares have increased 35 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 16 percent. The stock has increased 51 percent in the last 12 months.


This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on DE at