Net income of $802.4M, or $2.49 per share vs. $495.4M, or $1.56 per share in the same quarter a year ago.
Worldwide net sales increased 5% Y/Y to $8.287B. Segment Sales: Agriculture & Turf. +1%; Construction & Forestry +7%.
"We are seeing modestly higher overall demand for our products, with farm machinery sales in South America experiencing a strong recovery," CEO Samuel Allen declared.
Updated outlook for fiscal 2017: Equipment sales and net sales are projected to increase about 9% (vs. an increase of 4%), while net income is anticipated to be about $2B (vs. $1.5B).
DE +9.2% premarket