Deere & Company Q3 Profit Decreases - Quick Facts

(RTTNews) - Deere & Company (DE) reported third-quarter net income attributable to company of $512 million, or $1.53 per share, compared to $851 million, or $2.33 per share, in the prior year quarter.

On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $1.44 for the quarter. Analysts' estimates typically exclude special items.

Worldwide net sales and revenues for the latest third quarter declined 20% to $7.59 billion from $9.50 billion in the comparable quarter last year. Net sales of the equipment operations were down to $6.84 billion from $8.72 billion, a year ago. Analysts expected revenue of $7.17 billion for the quarter.

Deere $ Company expects company equipment sales to be down about 24 percent for the fourth quarter.

For fiscal 2015, Deere & Company now expects net income attributable to company to be about $1.8 billion and company equipment sales to decrease about 21 percent.

Earlier, the company expected net income attributable to company to be about $1.9 billion and company equipment sales to decrease about 19 percent for fiscal 2015.