MOLINE, Illinois — Deere & Co. (DE) on Wednesday reported fiscal fourth-quarter net income of $351.2 million.
The Moline, Illinois-based company said it had profit of $1.08 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The agricultural equipment manufacturer posted revenue of $5.93 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $6.13 billion.
For the year, the company reported profit of $1.94 billion, or $5.77 per share. Revenue was reported as $25.78 billion.
Deere shares have dropped 14 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 1.5 percent. The stock has decreased 13 percent in the last 12 months.
Keywords: Deere, Earnings Report