BRIEF-Deere & Co Q2 earnings per share $1.56

Fri May 20, 2016 7:24am EDT
 
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May 20 (Reuters) - Deere & Co :

* Announces second-quarter earnings of $495 million

* Q2 sales $7.875 billion versus I/B/E/S view $6.71 billion

* Q2 earnings per share $1.56

* Full-year forecast calls for 9% sales decline and earnings of $1.2 billion.

* Deere's worldwide sales of agriculture and turf equipment are forecast to decrease by about 8 percent for fiscal-year 2016

* Industry sales for agricultural equipment in U.S. and Canada are forecast to be down 15 to 20 percent for 2016

* Company equipment sales are projected to decrease about 9 percent for fiscal 2016 and to be about 12 percent lower for Q3

* Full-year 2016 industry sales in EU28 are forecast to be flat to down 5 percent   Continued...