Deere: Fiscal 3Q Earnings Snapshot
Deere: Fiscal 3Q Earnings Snapshot
FILE- In this July 19, 2018, file photo people work at the John Deere Commercial Products factory in Grovetown, Ga. Deere & Co. reports earnings on Friday, Aug. 17. (Michael Holahan/The Augusta Chronicle via AP, File)
MOLINE, Ill. (AP) -- Deere & Co. (DE) on Friday reported fiscal third-quarter profit of $910.3 million.
On a per-share basis, the Moline, Illinois-based company said it had profit of $2.78. Earnings, adjusted for pretax gains, were $2.59 per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.77 per share.
The agricultural equipment manufacturer posted revenue of $10.31 billion in the period. Its adjusted revenue was $9.29 billion, beating Street forecasts. Five analysts surveyed by Zacks expected $9.17 billion.
Deere shares have fallen 12 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 6 percent. The stock has risen 8.5 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DE at https://www.zacks.com/ap/DE
