November 23, 2016 / 12:12 PM / in a year

BRIEF-Deere sees FY 2017 sales down about 1 pct

Nov 23 (Reuters) - Deere & Co :

* Q4 earnings per share $0.90

* Fiscal 2017 forecast calls for earnings of $1.4 billion on slightly lower sales volumes

* Deere & Co - agriculture & turf sales fell 5 percent for quarter

* Deere & Co - company equipment sales are projected to decrease about 1 percent for fiscal 2017

* Deere & Co - construction and forestry sales decreased 5 percent for quarter

* Deere’s worldwide sales of agriculture and turf equipment are forecast to decrease by about 1 percent for fiscal-year 2017

* Deere’s worldwide sales of construction and forestry equipment are forecast to be up about 1 percent for 2017

* Deere & Co - company equipment sales are projected to be down about 4 percent for Q1 compared with same periods of 2016

* Q4 earnings per share view $0.40 -- Thomson Reuters I/B/E/S

* Deere & Co -“we are driving further efficiency gains and have confidence we can deliver structural cost reductions of at least $500 million by end of 2018”

* Deere & Co - FY 2017 net income attributable to Deere & Company is anticipated to be about $1.4 billion

* Deere & Co - savings from separation programs are expected to be approximately $75 million in 2017

* Deere & Co -total pretax expenses related to employee-separation programs employee-separation programs are estimated to be $116 million

* Deere & Co - “global farm recession, weak construction-equipment markets lead to lower sales and earnings for Q4 and full year”

* Deere & Co -$11 million of total pretax expenses related to employee-separation programs of 2017 was recorded in Q4, $105 million will be recorded in Q1 2017

* Deere & Co - have “confidence” we can deliver structural cost reductions of at least $500 million by end of 2018

* Deere reports earnings of $285 million for fourth quarter and $1.524 billion for year

* Sees FY 2017 sales down about 1 percent

* Q4 sales $6.52 billion versus I/B/E/S view $5.38 billion Source text for Eikon: Further company coverage:

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