Deere reports lower quarterly earnings

CHICAGO: Deere & Co. on Wednesday reported lower fourth-quarter earnings, hurt by trade tensions as well as poor weather in the U.S. farm belt that have slowed equipment purchases by farmers.

For the quarter ended on Nov. 3, it reported an adjusted profit of US$2.14 per share, down from US$2.30 per share last year. That compares with average analyst estimates of US$2.13 per share, according to Refinitiv Eikon data.The Moline, Illinois-based company said it expects net income of US$2.7 billion to US$3.1 billion in the fiscal 2020.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

HP Inc beats profit estimates on higher PC salesHP Inc on Tuesday posted quarterly earnings above analysts' estimates as higher sales of personal computers and workstations helped counter ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Dell cuts full-year revenue forecast on PC chip shortageDell Technologies Inc missed Wall Street estimates for quarterly revenue on Tuesday as its server business wrestled with higher costs and lower ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Dell misses revenue estimates on weakness in server businessDell Technologies Inc missed Wall Street estimates for quarterly revenue on Tuesday as its server business wrestled with higher costs and lower ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »