Deere(NYSE: DE) posted earnings at $0.83 EPS versus the First Call estimate of $0.78 EPS.  Its revenues rose 17.5% from Q4-2006 to $5.2 Billion versus $5.07 Billion consensus.

As far as guidance, Deere noted that equipment sales should increase by about 17% for full-year in 2008 and should be up approximately 23% for the second quarter. Deere’s net income is forecast to be about $2.2 billion for the year and in a range of $700 million to $725 million for the second quarter.  The company did realize gains from currency of roughly 3% of the sales increase for both periods.

Deere shares closed up over 2% yesterday to $86.48 and shares are down roughly the same amount in early pre-market trading at $84.25.  The 52-week trading range is $51.26 to $94.77.

Jon C. Ogg
February 13, 2008