Deere & Company Stock Jumps on Q4 Earnings Beat

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Deere & Company (NYSE:DE) stock was on its way up today following an earnings beat for its fiscal fourth quarter of 2017.

Deere & Company Stock Jumps on Q4 Earnings Beat

During its fiscal fourth quarter of the year, Deere & Company reported earnings per share of $1.57. This is up 74% from its earnings per share reported in the same period of the year prior. It was also a boost to DE stock by coming in above Wall Street’s earnings per share estimate of $1.47 for the quarter.

Deere & Company reported revenue of $8.02 billion during its fourth quarter of 2017. This is a 23% increase over its revenue from its fiscal fourth quarter of 2016. It also easily beat out analysts’ revenue estimate of $6.99 billion for the fiscal fourth quarter of the year.

This earnings report also includes Deere & Company’s results for the full year of fiscal 2017. The equipment company reported earnings per share of $6.68 on revenue of $29.74 billion for the year. Wall Street was estimating earnings per share of $6.50 on revenue of $25.71 billion for fiscal 2017.

Net income reported by Deere & Company in its fiscal fourth quarter of 2017 was $510 million, which is up 79% from the same time last year. Net income for the fiscal full year of 2017 was $2.16 billion, which is up 42% from the previous year.

Deere & Company also provided an outlook for fiscal 2018 in its most recent earnings report. The company says that it is expecting revenue for the year to be up roughly 22% from its fiscal 2017 revenue. It is also expecting net income for the year to come in around $2.6 billion.

DE stock was up 3% as of Wednesday morning and is up 39% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/11/deere-company-reports-q4-earnings-beat/.

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