Deere & Co. Boosts FY23 Net Income Outlook As Q1 Results Top Estimates

RTTNews | 734 days ago
Deere & Co. Boosts FY23 Net Income Outlook As Q1 Results Top Estimates

(RTTNews) - While reporting financial results for the second quarter on Friday, Deere & Co. (DE) raised its guidance for net income attributable to the company for the full-year 2022 to a range of $8.75 billion to $9.25 billion from the prior forecast range of $8.0 billion to $8.5 billion.

For the first quarter, the company reported net income attributable to Deere of $1.96 billion or $6.55 per share, sharply higher than $903 million, or $2.92 per share in the prior-year quarter.

Worldwide net sales and revenues increased 32 percent to $12.65 billion from $9.57 billion in the same quarter last year. Net sales were $11.40 billion, up from $8.53 billion a year ago.

On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $5.56 per share on revenues of $11.28 billion for the quarter. Analysts' estimates typically exclude special items.

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John Deere Mowers With Kawasaki Engines Recalled

John Deere Mowers With Kawasaki Engines Recalled

Kawasaki Motors Corp. U.S.A. has recalled about 39,000 units of select John Deere mowers from Illinois-based Deere & Co. with Kawasaki enginess, citing fire and burn risks, the U.S. Consumer Product Safety Commission said. About 2,600 units sold in Canada were also impacted. The recall involves John Deere ZTrak Zero Turn Mowers with model numbers Z720E, Z730M, Z740R and Z760R with Kawasaki engines
RTTNews | 48 days ago
John Deere Recalls 165K Compact Utility Tractors

John Deere Recalls 165K Compact Utility Tractors

Moline, Illinois-based Deere & Co. is recalling about 147,900 units of Compact Utility Tractors citing risk of crash, according to the U.S. Consumer Product Safety Commission. In addition, about 16,800 units were sold in Canada. The recall involves John Deere 1023E, 1025R, and 2025R Compact Utility Tractors in green and yellow, and were sold with both opened and closed operator stations.
RTTNews | 146 days ago
CPSC Recalls: Kawasaki Engines, Ascenders, Biometric Gun Safes, Pet Conditioner, Sling Carriers

CPSC Recalls: Kawasaki Engines, Ascenders, Biometric Gun Safes, Pet Conditioner, Sling Carriers

The U.S. Consumer Product Safety Commission or CPSC has announced recalls including Kawasaki Engines in select lawn and garden equipments, Ropeman 1 Ascenders, Biometric gun safes, pet conditioner, and sling carriers, citing various reasons. In most of the recalls, consumers are urged to immediately stop using the recalled product, and contact the respective firm for either a free repair...
RTTNews | 258 days ago
U.S. Dollar Declines After Higher Jobless Claims

U.S. Dollar Declines After Higher Jobless Claims

The U.S. dollar weakened against its major counterparts in the New York session on Thursday, following the release of higher-than-expected initial jobless claims for the week ended February 15.
RTTNews | 6h 28min ago
Swiss Market Ends Slightly Higher

Swiss Market Ends Slightly Higher

The Switzerland market closed slightly up on Thursday after a choppy session, as investors largely stayed cautious amid concerns about U.S. President Donald Trump's tariff threats, and geopolitical tensions.
RTTNews | 6h 28min ago
European Stocks Close Weak As Investors React To Earnings, Economic Data

European Stocks Close Weak As Investors React To Earnings, Economic Data

European stocks closed weak on Thursday with quarterly earnings updates influencing investors' moves. Worries about a trade war following U.S. President Donald Trump's persistent threats that his administration will levy 25% tariffs on several goods imported into America, and lingering geopolitical tensions rendered the mood cautious.
RTTNews | 6h 50min ago