Record Q2 earnings from John Deere
May 15, 2013 By Aggregates and Roadbuilding
May 15, 2013, Moline, Ill. – John Deere reported sales that reached new
single-quarter records in its second quarter results. The results are
partly from higher sales of farm machinery, and the timely execution of
the company's business plans.
Net income attributable to
Deere & Company was $1.084 billion, or $2.76 per share, for the
second quarter ended April 30, compared with $1.056 billion, or $2.61
per share, for the same period last year.
For the first six
months of the year, net income attributable to Deere & Company was
$1.734 billion, or $4.41 per share, compared with $1.589 billion, or
$3.91 per share, last year.
Worldwide net sales and revenues
increased nine per cent, to $10.914 billion, for the second quarter and rose nine per cent to $18.335 billion for six months. Net sales of the equipment
operations were $10.265 billion for the quarter and $17.058 billion for
six months, compared with $9.405 billion and $15.524 billion for the
periods last year.
"Deere's results are a
reflection of positive conditions in the global farm economy, which
continues to show impressive strength," said Samuel R. Allen, chairman and CEO.
sales are projected to increase by about five per cent for fiscal 2013 and
by about three per cent for the third quarter compared with the same periods a
year ago. Included is an unfavorable currency-translation impact of
about one per cent for the year. For the full year, net income attributable
to Deere & Company is anticipated to be about $3.3 billion.
For the full report visit, www.deere.com.
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