John Deere Posts Impressive Fourth Quarter Earnings

At least some investors are making money off of ethanol! John Deere, the world's leading manufacturer of farm equipment, posted impressive fourth quarter earnings due to a jump in ethanol demand. Net income climbed to $422.1 million, or $1.88 a share, on sales of $5.45 billion which beat analyst expectations of $1.54 a share. Business in Brazil caused overseas sales to jump 32 percent as Brazilian farmers bought more machines for sugarcane production. John Deere stock shot up $7.06 (%4.87) to $152.06 a share after the news.

 

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