(Boursier.com) — Deere , the American agricultural equipment giant, stumbles before the stock market on Wall Street, despite growing profits, supported by demand for equipment. In this third fiscal quarter, which ended in early August, the group made a net profit of $1.88 billion, $6.16 per share, compared to a level of $1.67 billion a year earlier. Revenue improved 22% to $14.1 billion. The consensus for the quarter ended was $6.69 EPS. The group is therefore doing less well than expected from the point of view of profitability, but its sales are exceeding expectations. Over nine months, revenues increased by 13%, while net profit reached 4.88 billion dollars. For the full year, the group expects a net profit ranging from 7 to 7.2 billion dollars. Deere expects favorable conditions to continue in 2023, based on pre-order programs.
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