Deere: raises FY earnings target

(CercleFinance.com) - John Deere has said that it now expects FY 2019-20 earnings of around 2.
25 billion dollars, compared to a 1.6-2.3 billion dollars three months ago.

The Moline-based group (Illinois) reported Q3 2019-20 net profit that is down 10% at 811 million dollars, or 2.57 dollars per share, although this is more than twice the consensus.

The manufacturer of agricultural and building machinery has seen its sales drop 11% to just over 8.9 billion dollars, while its operating profit margin has reached 14.6%, which it says has been assisted by a strong execution against the global pandemic.


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