Deere And Co Reveals 28% Decline In Q2 Profit

(RTTNews) - Deere And Co (DE) reported earnings for second quarter that retreated from last year.

The company said its profit dropped to $495.4 million, or $1.56 per share. This was down from $690.5 million, or $2.03 per share, in last year's second quarter.

Analysts had expected the company to earn $1.48 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 3.9% to $7.11 billion. This was down from $7.40 billion last year.

Deere And Co earnings at a glance:

-Earnings (Q2): $495.4 Mln. vs. $690.5 Mln. last year. -Earnings Decline (Y-o-Y): -28.3% -EPS (Q2): $1.56 vs. $2.03 last year. -EPS Decline (Y-o-Y): -23.2% -Analysts Estimate: $1.48 -Revenue (Q2): $7.11 Bln vs. $7.40 Bln last year. -Revenue Change (Y-o-Y): -3.9%