Caterpillar announced revenues of $640 million for the third quarter of 2010. These revenues represent a 5% or $36 million decrease in revenues from the third quarter of the previous year. Profit for the third quarter also decreased when compared to year-ago results. Q3 profit decreased by $3 million to $73 million for the quarter. Losses were driven primarily by decreased earning assets and lower interest rates, both of which totaled $104 million in losses for Caterpillar in the third quarter. Profit, however, increased as compared to year-ago results. Profit for the third quarter was $89 million as compared to $80 million the previous year.
Deere & Company posted net income of $457.2 million for the fourth quarter of 2010, an increase from a loss of $222.8 million in the fourth quarter of 2009. Fourth quarter net income translated to earnings of $99.0 million for the quarter. Net sales and revenues increased by 35% and culminated at $7.202 billion and were a Deere & Company quarterly earnings record. Driving this growth was a quarterly increase in the net sales of equipment operations, increasing from $4.726 in Q4 FY2009 to $6.564 in Q4 FY2010. Deere saw increases for its yearly earnings as well, increasing from $873.5 million in FY2009 to $1.865 billion in FY2010.
Deere & Company posted a 47% increase in income for the third quarter of 2010, driven primarily by a 16% gain in revenues and net sales. This income totaled $617.0 million for the quarter as compared to $420.0 million from the same quarter last year. Net sales and revenues totaled $6.837 billion; net sales for equipment operations in particular were $6.224 billion as compared to $5.283 billion in the third quarter of 2009. Driving increases in sales and revenues were 2% increases in prices of sold goods as well as 19% and 16% increases in the US and Canada as well as in the rest of the world respectively. Operating profit increased from $452 million in the third quarter of 2009 to $890 million for the third quarter of 2010.
Deere and Company posts first quarter results, marking 19% increase in income alongside a 6% decrease in net sales and revenues, culminatng at $4.835 billion.
DE Hosts F3Q08 Earnings Call
Q1 2008 earnings release show international sales up 37%.
Deere announces plans to acquire Lesco, a company specializing in commercial and consumer landscaping and lawn care equipment.