Deere&Company (NYSE:DE) reported on Friday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Deere&Company announced earnings per share of $2.11 on revenue of $8.22B. Analysts polled by anticipated EPS of $1.91 on revenue of $8.1B. That with comparison to EPS of $3.52 on revenue of $10.27B in the same period a year before. Deere&Company had reported EPS of $1.63 on revenue of $6.53B in the previous quarter. Analysts are expecting EPS of $1.39 and revenue of $6.93B in the upcoming quarter.
Deere&Company shares are down 17.57% from the beginning of the year , still down 21.53% from its 52 week high of $181.99 set on February 21. They are under-performing the S&P 500 which is down 9.13% year to date.
Deere&Company follows other major Capital Goods sector earnings this month
Deere&Company's report follows an earnings beat by Honeywell on May 1, who reported EPS of $2.21 on revenue of $8.46B, compared to forecasts EPS of $1.96 on revenue of $8.59B.
Raytheon Technologies had beat expectations on May 7 with first quarter EPS of $1.78 on revenue of $18.21B, compared to forecast for EPS of $1.01 on revenue of $17.49B.
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