MOLINE- Deere & Company's stock ended Wednesday, November 21, up $3.36 after reporting its 4th quarter earnings. It closed at $141.88.
The net income from the company was reported at $785 million Wednesday, a 54% increase over the prior year. Deere reported a strong global and domestic consumer demand for its products, specifically in the agriculture and construction sectors. U.S. tax reform legislation caused its net income per share to be $2.30, below the market expectations of $2.44. Investment Advisor Mark Grywacheski says the main cause for the low amount is the higher costs of materials from President Donald Trump's 25% tariff announcement, he made back in March.
We'll ask investment Grywacheski about the increases Monday, November 26, during Your Money on Good Morning Quad Cities. Your Money With Mark airs live on Good Morning Quad Cities every Monday between 5 a.m. and 5:30 a.m. To live stream our newscast from our website, click here.