Categories Earnings, Industrials

Deere & Company (DE): Q1 2020 Earnings Snapshot

— Deere & Company (NYSE: DE) reported Q1 2020 earnings of $1.63 per share, vs. $1.26 expected.

— Worldwide net sales and revenue fell 4% to $7.63 billion, vs. $6.42 billion expected.

Deere & Company reports Q1 2020 earnings results

— Net sales of Equipment Operations dropped 6% to $6.53 billion.

— Net sales of Agriculture & Turf fell 4% to $4.48 billion.

— Net sales of Construction & Forestry decreased 10% to $2 billion.

— FY2020 net income is expected to be $2.7 billion to $3.1 billion.

— FY2020 worldwide sales of agriculture and turf equipment are forecast to decline 5-10%.

— FY2020 worldwide sales of construction and forestry equipment are anticipated to be down 10-15%.

— DE shares were up 8% in premarket hours on Friday.

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Also Read:  Mark your calendar for Grubhub Q4 earnings tomorrow

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