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Deere and Company Q2 net income $1.135 billion

Christian Fernsby |
Deere and Company reported net income of $1.135 billion for the second quarter ended April 28, 2019, or $3.52 per share, compared with net income of $1.208 billion, or $3.67 per share, for the quarter ended April 29, 2018.

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For the first six months of the year, net income attributable to Deere and Company was $1.633 billion, or $5.07 per share, compared with $673.2 million, or $2.05 per share, for the same period last year.

Affecting last year's results were charges to the provision for income taxes due to U.S. tax reform legislation (tax reform).

Without these adjustments, net income attributable to Deere and Company for the second quarter and first six months of 2018 would have been $1.034 billion, or $3.14 per share, and $1.476 billion, or $4.49 per share, respectively.

Worldwide net sales and revenues increased to $11.342 billion, for the second quarter of 2019 and rose 10 percent, to $19.326 billion, for six months.

Net sales of the equipment operations were $10.273 billion for the quarter and $17.214 billion for six months, compared with $9.747 billion and $15.721 billion last year.


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