Saturday, May 19, 2012

Record Book Earnings

During the second quarter, John Deere was able to hit quarterly highs for both income and sales, and was the tenth straight quarter where thy reporter higher earnings quarter over quarter. Quarterly income cracked $1 Billion for the first time in company history, with revenues growing to over $10 Billon, giving the global giant year over year growth of over 12%. The company reported EPS of $2.61, which beat the market expectations of $2.54, a positive surprise of 2.76%. A big reason for this growth has been the growth in global farming, which according to CEO Sam Allen has shown impressive “strength and endurance.” The company has also successfully launched their major new product line, the engine-emission technology.

-Matt Buechele

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