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The company now anticipates net income to range between $9.75 billion-$10.00B, up from the previous forecast ranging from $9.25B-$9.50B.
Deere reported an EPS of $10.20, crushing the analyst estimate of $8.20. Revenue for the quarter came in at $15.8B versus the consensus estimate of $14.12B.
“Reflected by our strong third-quarter results, Deere continues to benefit from favorable market conditions and an operating environment showing further improvement,” said John C. May, chairman and chief executive officer.
“We are also being helped by stabilizing conditions in the supply chain, the sound execution of our business plans, and an improving ability to meet demand for our products and serve customers.”
Deere stock rose 1.6% in early Friday trade.
