Deere: increases earnings target for current year

(CercleFinance.com) - On unveiling its quarterly results, John Deere has raised its earnings target for FY 2021-22 to 6.
7 to 7.1 billion dollars, above a previous target range of 6.5 to 7 billion dollars provided three months ago.

Going forward, it expects demand for agricultural and construction equipment to continue to benefit from strong fundamentals, it said.

Deere reported net income that is down 26% at 903 million dollars for Q1, i.e. 2.92 dollars per share, despite sales that increased 5% to just under 9.6 billion dollars.

After closing down over 2.5% yesterday, the Deere share is up about 0.4% in pre-market trading today.


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