Deere profit rises to $1.38 billion as construction offsets farm weakness

Deere reported fiscal third-quarter profit of $1.38 billion for the three months ended Aug. 2, up from $1.29 billion in the comparable period last year. Earnings rose to $5.10 a share, beating the $4.69 average estimate from analysts polled by FactSet. Higher sales and continued growth in construction equipment helped offset ongoing weakness in the company’s production agriculture segment. Deere shares were down 1.37%.

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