Adds extra particulars, quote CHICAGO, Nov 25 (Reuters) - D
Adds extra particulars, quote
CHICAGO, Nov 25 (Reuters) – Deere & Co DE.N on Wednesday reported greater than anticipated quarterly revenue as rising crop costs, aggressive authorities subsidy funds and substitute demand for an ageing fleet lifted the demand for farm machines.
The Moline, Illinois-based firm reported earnings of $2.39 per share in contrast with $2.27 per share final 12 months. Analysts surveyed by Refinitiv, on common, anticipated quarterly earnings to say no to $1.45 per share.
Deere mentioned it expects web earnings of about $3.6 billion-$4.zero billion within the fiscal 12 months 2021, greater than $3.Three billion estimated by analysts surveyed by Refinitiv.
“Larger crop costs and improved fundamentals are resulting in renewed optimism within the agricultural sector and bettering demand for farm gear,” mentioned Chief Govt John Might.
(Reporting by Rajesh Kumar Singh, enhancing by Louise Heavens)
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