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Deere: Q1 beats consensus

( - John Deere has reported Q1 2019-20 net profit that is up 4% at 517 million dollars, or 1.
63 dollar per share, meaning EPS that has outstripped the consensus by 35 cents.

The manufacturer of agricultural and construction machinery actually saw its revenues fall by 4% to 7.63 billion dollars, including revenues from equipment activities that are down 6% at 6.53 billion dollars, in particular weighed on by sales in construction and forestry work (-10%).

Announcing the first signs of stabilisation for the agricultural sector in the United States, the group from Moline (Illinois) confirms that it expects FY 2019-20 net profit in a target range of 2.7bn-3.1bn dollars.

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