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    19.02.2016 12:18 Company News: Deere (DE) Posts Quarterly Results and FY 2016 Guidance

    Deere reported Q1 FY 2016 earnings of $0.80 per share (versus $1.12 in Q1 FY 2015), beating analysts' consensus of $0.70.

    The company's quarterly revenues amounted to $4.769 bln (-14.9% y/y), missing consensus estimate of $4.862 bln.

    Deere issued downside guidance for FY 2016, lowering revenues to -10% to $23.2 bln from -7% (versus analysts' consensus of $23.56 bln) and net income to $1.3 bln from $1.4 bln.

    DE fell to $78.25 (-2.59%) in pre-market trading.

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