Deere Profit Doubled and Strong Demand Of 3Q

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Third-quarter sales of agriculture and landscaping equipment rose 12% from a year ago. Meanwhile, construction and forestry equipment sales rose 59% from the severely depressed levels a year ago. Higher production volumes, price increases and Deere's ability to control its costs resulted in an 88% increase in operating profit from farm and construction machinery.

Deere's /quotes/comstock/13*!de/quotes/nls/de (DE 65.13, -0.58, -0.88%) quarterly profit rose to $1.44 a share from 99 cents a share in the year-earlier period. Analysts polled by FactSet were looking for $1.20 a share.

The world's largest farm-equipment maker said net income climbed to $617 million, or $1.44 a share, beating analysts' estimates. Volkmann speaks with Melissa Long on Bloomberg Television's "InsideTrack." (Source: Bloomberg)

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