DIRS.INFO The most relevant business & tech news

May 19 (Reuters) - Deere & Co (DE.N) on Friday topped Wall Street profit expectations on strong sales of its tractors and precision agriculture equipment, and raised its net income forecast for the rest of the year as its order books remain robust. Shares in the world's largest farm equipment maker were up 3.6% in premarket trading after the company reported a 36% rise in second-quarter profit. Net income increased to $2.86 billion from $2.1 billion a year ago. Farmers' demand for new equipment and parts to repair aging machinery has bolstered Deere's sales. Total net sales and revenues rose 30% to $17.39 billion for the second quarter.

Shares in the world's largest farm equipment maker were up 4% in premarket trading after the company reported a 36% rise in quarterly profit. Net income increased to $2.86 billion from $2.1 billion a year ago. Deere expects 2023 net income in the range of $9.25 billion to $9.50 billion, higher than the $8.75 billion to $9.25 billion forecast earlier. Farmers' demand for new equipment and parts to repair aging machinery has bolstered Deere's sales. Total net sales and revenues rose 30% to $17.39 billion for the second quarter.

The Biden administration's infrastructure legislation encouraged spending in the construction sector, spurring demand for the machinery maker's excavators, bulldozers and trucks. Caterpillar's construction division recorded a 10% rise in total sales on the back of solid demand in North America which increased 33% year-over-year. Cost control measures that led the company to raise prices across its machinery lines over the past two years have buoyed top-line growth. Healthy demand, coupled with strong pricing, helped Caterpillar navigate higher material and freight costs amid ongoing supply challenges. Caterpillar's sales and revenue for the quarter through March 31 rose to $15.9 billion from $13.6 billion a year ago.

[1/3] A biker rides his Harley-Davidson during a parade at the "Hamburg Harley Days" in Hamburg, Germany, June 24, 2018. Shares in the U.S. company rose 8.3%. Harley-Davidson said it expects revenue from its motorcycle business to grow in 2023. Global motorcycle shipments rose to 34,000 from 28,900 a year ago. The company's net profit rose to $39.7 million, or $0.28 cents per share, in the quarter ended Dec. 31, outpacing forecasts of 6 cents per share.

Jan 31 (Reuters) - Caterpillar Inc's (CAT.N) fourth-quarter earnings slid by 29%, the company reported on Tuesday, citing higher manufacturing costs and foreign currency effects that weighed on the industrial bellwether's margins. The Texas-based company noted that profit was also hit by a $925 million "goodwill impairment" charge and margin-eroding restructuring costs. Strong pricing that the company implemented over the past two years in an effort mitigate rising manufacturing costs have sustained top-line growth. Caterpillar's sales and revenue for the quarter rose 20% to $16.6 billion despite weaker sales in the Asia Pacific region. Operating profit rose 4% to 1.7 billion while free cash flow from the ME&T division came in at $5.8 billion.

Search resuls for: "Bianca Flowers Aishwarya Nair"

5 mentions found