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BRIEF-Deere posts Q1 earnings per share $0.61
2017年2月17日 / 中午12点05分 / 9 个月前

BRIEF-Deere posts Q1 earnings per share $0.61

Feb 17 (Reuters) - Deere & Co

* Deere announces first-quarter earnings of $194 million

* Q1 sales $5.625 billion versus I/B/E/S view $4.68 billion

* Sees FY 2017 sales up about 4 percent

* Deere & Co - full-year forecast calls for improved sales, earnings of $1.5 billion.

* Deere & Co - company equipment sales are projected to increase about 4 percent for fiscal 2017

* Deere & Co - efforts to establish more efficient cost structure on track

* Says Deere’s worldwide sales of agriculture and turf equipment are forecast to increase by about 3 percent for fiscal-year 2017

* Deere & Co - key agricultural markets show signs of stabilization

* Says Deere’s worldwide sales of construction and forestry equipment are forecast to be up about 7 percent for 2017

* Deere & Co - company equipment sales are projected to be up about 1 percent for Q2

* Q1 earnings per share $0.61

* Qtrly agriculture & turf sales were unchanged for quarter

* Deere & Co - foreign-currency rates are not expected to have a material translation effect on equipment sales for year or Q2

* Q1 earnings per share view $0.55 -- Thomson Reuters I/B/E/S

* Says industry sales for agricultural equipment in U.S. and Canada are forecast to be down 5 to 10 percent for 2017

* Deere & Co - net sales and revenues are projected to increase about 4 percent for fiscal 2017

* Deere & Co - construction and forestry sales decreased 6 percent for quarter

* Deere & Co - sees FY net income attributable to deere & company of about $1.5 billion

* Qtrly results pressured by soft conditions in farm and construction equipment sectors

* Says “started out year on a positive note in continued face of soft market conditions”

* Says “we are seeing signs that after several years of steep declines key agricultural markets may be stabilizing”

* Deere & Co - savings from voluntary employee-separation programs are expected to be approximately $70 million in 2017

* Deere & Co - “remain confident that we can deliver at least $500 million of structural cost reductions by end of 2018” Source text for Eikon: Further company coverage:

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