this March 23, 2015 photo, John Deere lawn tractors are on
display at a Home Depot in Robinson Township, Pa. Deere
& Co. on Friday, May 22, 2015, reported fiscal
second-quarter earnings of $690.5 million.
MOLINE, Ill. —
Solid sales in construction equipment offset a global agricultural
slowdown for Deere and the company raised its outlook for the
second-quarter earnings of $690.5 million, down from the $981
million last year, but better than Wall Street had expected.
before the opening bell Friday.
Illinois, company posted net income of $2.03 per share, which
easily beat the per-share earnings of $1.57 that analysts were
looking for, according to a survey by Zacks Investment Research.
manufacturer posted revenue of $7.4 billion in the period, just
short of analyst projections.
Profit for 2015
is now expected to be around $1.9 billion, the company said, up
slightly from the $1.8 billion it had projected. Earlier this
expects to be solidly profitable in 2015, with the year ranking
among our stronger ones in sales and earnings despite the pullback
in the farm sector," said Chairman and CEO Samuel Allen in a
Shares of Deere
& Co. rose almost 2 percent, or $1.54, to $91 before the