By Matt Grossman


Deere & Co. on Wednesday logged better-than-expected sales and earnings in the fiscal fourth quarter, with both figures growing year over year despite a major strike that affected production during the end of the quarter.

The Moline, Ill.-based farm- and construction-equipment company posted earnings of $4.12 a share, a rise from $2.39 a share a year earlier. Analysts polled by FactSet had forecast earnings of $3.91 a share.

Deere's net income was $1.28 billion, up from $757 million, it said.

Sales rose 16% to $11.33 billion from $9.73 billion, it said. Analysts were forecasting sales of $10.46 billion.

Production and precisions agriculture sales were up 23%, while small agriculture and turf sales climbed 17%. Construction and forestry sales rose by 14%, the company said.

The five-week strike that ended last week included more than a third of Deere's U.S. workforce. It straddled the end of the fourth quarter and the start of the first.


Write to Matt Grossman at


(END) Dow Jones Newswires

November 24, 2021 07:16 ET (12:16 GMT)

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