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

RTTNews | 639 days ago
Stocktwits
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.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

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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 | 51 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 | 163 days ago
Canadian Market Settles Lower; TSX Sheds 0.6%

Canadian Market Settles Lower; TSX Sheds 0.6%

The Canadian market ended notably lower on Friday, weighed down by losses in energy, industrials and materials sectors, and on uncertainty about Federal Reserve's interest rate trajectory.
RTTNews | 1 day ago
Dollar Turns In Mixed Performance Against Major Counterparts

Dollar Turns In Mixed Performance Against Major Counterparts

The U.S. dollar turned in a sluggish performance on Friday with investors assessing the Federal Reserve's likely moves with regard to interest rate reductions in the wake of most recent economic data, and Fed Chair Jerome Powell's somewhat hawkish comments.
RTTNews | 1 day ago
Canadian Shares Notably Lower

Canadian Shares Notably Lower

The Canadian market is down in negative territory Friday afternoon with stocks from several sectors reeling under sustained selling pressure amid uncertainty about U.S. interest rate cuts after dovish comments from Fed Chair Jerome Powell.
RTTNews | 1 day ago
Swiss Market Ends Lower On Growth Concerns

Swiss Market Ends Lower On Growth Concerns

Swiss stocks tumbled on Friday, weighed down data showing a slowdown in growth, and uncertainty about Fed interest rate cuts following hawkish comments by the central bank chair Jerome Powell.
RTTNews | 1 day ago
U.S. Dollar Strengthens After Strong Retail Sales Data

U.S. Dollar Strengthens After Strong Retail Sales Data

The U.S. dollar climbed against its most major counterparts in the New York session on Friday, following the release of the latest batch of economic data, including a Commerce Department report showing retail sales increased by slightly more than expected in October.
RTTNews | 1 day ago
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