Deere misses estimates while boosting full year guidance
Deere & Company (DE) is up 4.7% Friday morning following the company’s fiscal second-quarter earnings report. Deere posted quarterly earnings of $3.14 per share on sales of $9.75 billion. Earnings were below the $3.33 consensus while sales were in-line with analyst estimates. Despite the earnings miss, shares are moving higher in response to the company boosted its full year earnings guidance to $3.1 billion from $2.85 billion. Deere also expects to see net sales jump 26 percent year over year, but it did admit that the company is facing higher raw material costs.
Deere & Company (DE) manufactures heavy farm and construction equipment.
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