John Deere announces record-breaking earnings

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John Deere has had a record-breaking quarter hitting near $807 million.

On Wednesday, November 20, 2013, the equipment company announced its fourth-quarter earnings were $806.8 million or $2.11 per share. The quarter ended on October 31.

During the same quarter in 2012, Deere earned $687.6 million or $1.75 per share.

While worldwide net sales decreased slightly during the fourth quarter in 2013, they increased 5-percent for the full year.

See the full earnings report -- click here.

“With our strong financial results in the fourth quarter, John Deere has wrapped up another year of impressive achievement,” said Chairman and Chief Executive Officer Samuel R. Allen.

Allen said Deere had a record number of product introductions and added seven new factories in Brazil, Russia, India, and China.

Deere & Company has projected that sales will decrease about 3-percent in 2014. Consideration has been made for “the sale of 60-percent of John Deere Landscapes operations.”