Deere & Co. on Wednesday reported fiscal fourth-quarter earnings of $2.25 billion.
On a per-share basis, the Moline-based company said it had net income of $7.44.
For the year, the company reported profit of $7.13 billion, or $23.28 per share. Revenue was reported as $47.92 billion.
“Deere’s strong performance for both the fourth quarter and full year is a tribute to our dedicated team of employees, dealers, and suppliers throughout the world,” said John C. May, chairman and chief executive officer. “We’re proud of their extraordinary efforts to overcome supply-chain constraints, increase factory production, and deliver products to our customers.”
The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $7.08 per share.
The agricultural equipment manufacturer posted revenue of $15.54 billion in the period. Its adjusted revenue was $14.35 billion, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $13.64 billion.