Deere stock gains as firm equipment demand drive Q2 earnings beat

Updated at 8:02 am EST

Deere & Co. (From) – Get Deere & Company report Friday posted better-than-expected second-quarter earnings, and boosted its full-year profit forecast as demand for farm equipment surpassed inflation and supply-chain pressures that were disrupting delivery schedules.

Deere said the group’s financial second-quarter earnings for the three months ended May 1 came in at 8 6.81 per share, up 19.9% ​​from the same period last year and 10 cents ahead of the road consensus forecast. The group’s global sales, Deer said, rose 11% year-on-year to $ 13.37 billion, briefly topping analysts’ forecasts of $ 13.36 billion.

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