Deere & Co (DE) reported a decline in second-quarter profit compared to the same period last year, although the results surpassed Wall Street expectations.
The company’s net income was $2.37 billion, or $8.53 per share, compared to $2.86 billion, or $9.65 per share, in Q2 of the previous year.
According to Thomson Reuters, analysts had projected an average earnings estimate of $7.86 per share, typically excluding special items.
Quarterly revenue decreased by 12.4%, dropping to $15.235 billion from $17.387 billion last year.
Financial highlights for Deere & Co (GAAP):
- Earnings (Q2): $2.37 billion vs. $2.86 billion last year
- EPS (Q2): $8.53 vs. $9.65 last year
- Revenue (Q2): $15.235 billion vs. $17.387 billion last year
