Deere & Co. said its normalized net income for the fiscal second quarter ended April 30 amounted to $1.93 per share, compared with the S&P Capital IQ consensus estimate of $1.69 per share.
EPS climbed 33.5% year over year from $1.45.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $624.0 million, an increase of 36.1% from $458.6 million in the second quarter ended May 1, 2016.
The normalized profit margin rose to 7.7% from 5.8% in the year-earlier period.
Total revenue increased on an annual basis to $8.11 billion from $7.88 billion, and total operating expenses increased year over year to $7.07 billion from $6.89 billion.
Reported net income rose 62.3% year over year to $803.0 million, or $2.49 per share, from $494.9 million, or $1.56 per share.
