MOLINE, Ill. — Deere & Co. today reported fiscal third-quarter earnings of $1.67 billion.
On a per-share basis, the company said it had profit of $5.32.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $4.49 per share.
The agricultural equipment manufacturer posted revenue of $11.53 billion in the period. Its adjusted revenue was $10.41 billion, which also beat Street forecasts. Five analysts surveyed by Zacks expected $10.2 billion.
Deere shares have increased 33% since the beginning of the year, while the S&P’s 500 index has increased 17%. The stock has climbed 87% in the past 12 months.