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Deere & Co. Q3 EPS $2.59

Staff Writer |
Deere & Co. reported Q3 EPS of $2.59. Revenue for the quarter came in at $9.29 billion versus the consensus estimate of $9.21 billion.

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Company equipment sales are projected to increase by about 30 percent for fiscal 2018 and by about 21 percent for the fourth quarter compared with the same periods of 2017.

Of these amounts, Wirtgen is expected to add about 12 percent to Deere sales for both the full year and fourth quarter.

Foreign-currency rates are not expected to have a material translation effect on equipment sales for the year but are anticipated to have an unfavorable effect of about 3 percent for the fourth quarter.

Net sales and revenues are expected to increase by about 26 percent for fiscal 2018 with net income attributable to Deere & Company forecast to be about $2.360 billion.

The company’s net income forecast includes $741 million of provisional income tax expense associated with tax reform, representing discrete items for the remeasurement of the company’s net deferred tax assets to the new U.S. corporate tax rate and a one-time deemed earnings repatriation tax.

Adjusted net income attributable to Deere & Company, which excludes the provisional income-tax adjustments associated with tax reform, is forecast to be about $3.1 billion.


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