Deere Profit Tops Estimates on Farm Income
By Shruti Date Singh - Nov 23, 2011 7:07 AM ET
Blomberg.com
Deere & Co. (DE), the world’s largest farm-equipment maker, reported fiscal fourth-quarter profit that topped analysts’ estimates as U.S. farmers flush with cash bought tractors and other high-horsepower equipment.
Net income rose 46 percent to $669.6 million, or $1.62 a share in the quarter ended Oct. 31, from $457.2 million, or $1.07, a year earlier, Moline, Illinois-based Deere said today in a statement. Analysts projected per-share profit of $1.44, the average of 15 estimates compiled by Bloomberg. Sales climbed 20 percent to $8.61 billion from $7.2 billion.
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Cropland values in the U.S. Great Plains surged 25 percent to a record because of bumper corn and wheat harvests, according to a survey in the third quarter by the Federal Reserve Bank of Kansas City that covered all or parts of states including Colorado, Kansas, Nebraska, Oklahoma and Wyoming.
Full story: http://www.bloomberg.com/news/2011-11-23/deere-profit-tops-estimates-as-farm-income-climbs.html
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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