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Deere Trades Higher On Q3 Earnings Beat

Deere and Company (NYSE: DE) shares are trading higher on Friday after the company reported better-than-expected third-quarter EPS and sales results.

Benzinga · 08/21/2020 14:31

Deere and Company (NYSE:DE) shares are trading higher on Friday after the company reported better-than-expected third-quarter EPS and sales results.

The company reported earnings of $2.57 per share, which beat the analyst consensus estimate of $1.26. Deere and Company reported third-quarter worldwide net sales and revenues decreased 11%, to $8.925 billion versus $6.70 billion estimate.

"With outstanding support from our dedicated global workforce and dealer organization, John Deere delivered a strong performance in the third quarter in the face of a serious global pandemic and uncertain market conditions," said John May, CEO of Deere and Company.

Deere and Company is an American corporation that manufactures agricultural, construction, and forestry machinery, diesel engines, drivetrains used in heavy equipment, and lawn care equipment

Deere shares were trading up 4.1% at $200.44 at the time of publication on Friday. The stock has a 52-week high of $201.28 and a 52-week low of $106.14.