MOLINE, Ill. — Deere & Co. today reported fiscal third-quarter net income of $811 million.
On a per-share basis, the company said it had profit of $2.57.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The agricultural equipment manufacturer posted revenue of $8.93 billion in the period. Its adjusted revenue was $7.86 billion, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $6.64 billion.
Deere shares have climbed 10% since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 5%. The stock has risen 26% in the past 12 months.