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Deere 1Q Sales, Profit Rise as Equipment Shipments Grow


Provided by
Dow Jones
By Matt Grossman
Deere & Co. Friday logged stronger sales and profit figures for the latest quarter as revenue grew across the company s operating segments.
The Moline, Ill.-based maker of agricultural and construction equipment logged first-quarter earnings of $3.87 a share, compared with $1.63 a share in the same three-month period a year earlier. Analysts surveyed by FactSet had forecast earning of $2.18 a share.
Net income attributable to the company rose to $1.22 billion, from $517 million in 2020 s first quarter.
Revenue was $9.11 billion, a 19% improvement compared with $7.63 billion in the year-ago quarter. Analysts had forecast revenue of $7.21 billion.
Improving conditions in the farm and construction sectors boosted the company s results, Chairman and Chief Executive John C. May said. ....

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