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More on Deere (DE) FQ2: Net profit +17% to $1.06B, net sales of equipment operations +13% to...

More on Deere (DE) FQ2: Net profit +17% to $1.06B, net sales of equipment operations +13% to $9.4B, as the company benefits from the "positive conditions in the global farm economy." Raises FY profit prediction to $3.35B from $3.28B previously, expects equipment sales to increase about 15%. Shares +2.3%. (PR)
Comments (2)
  • Airway
    , contributor
    Comments (7) | Send Message
     
    All I know, is what I see from living in prime farm country in central IL. In fact not far from DE headquarters in Moline. Because of the high price of grain, EVERY rural Ford and Chevy dealer have their lots FULL with new pickups just waiting for the farmers to buy. But before they are purchasing the new pickup, they have already purchased new tractors and implements (because that's where they prefer to be, in the field, in comfort). DE farm equipment is like CAT, dependable. If a farmer can afford Green, he will buy Green. It's very obvious that farmer are purchasing new equipment.
    16 May 2012, 08:55 AM Reply Like
  • MichaelJ8
    , contributor
    Comments (654) | Send Message
     
    yeap, de beats, and actually this time boosts outlook, yet it goes down 2 % even on a day when overall market is up... I am going to stick my head in some sand.
    16 May 2012, 12:02 PM Reply Like
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