Deere: exceeds expectations in Q3.

(CercleFinance.com) - John Deere, a provider of agricultural and construction equipment, has reported Q3 2016-17 net income that is up 31% at 641.
8 million dollars, or 1.97 dollar per share, compared with the consensus of around 1.91 dollar.

Revenues over the period increased by 16% to 7.8 billion dollars, with equipment sales up 17%, including 11% growth in North America and 25% internationally.

"We are seeing higher overall demand for our products with farm machinery sales in South America experiencing strong gains and construction equipment sales rising sharply," said CEO Samuel Allen.

Deere expects FY earnings of around 2,075 million dollars, on equipment sales that are up about 10%, against previous estimates of 2 billion dollars and 9% respectively.


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