Deere Forecast Tops Estimates on Construction Machinery Gain (4)

Deere & Co. (DE:US) forecast fiscal 2014 profit that exceeded analysts' estimates as it predicted higher construction and forestry equipment sales will help offset some of the decline in revenue from agriculture, its largest market.

Net income will drop to about $3.3 billion in the year through October, from $3.54 billion a year earlier, Moline, Illinois-based Deere said in a statement today. While that's the same as the company's November projection, it's more than the $3.13 billion average of 17 estimates compiled by Bloomberg. It maintained a forecast for a 3 percent drop for equipment sales.

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Focus on...Top 10 highlights from CONEXPO-CON/AGG 2014

Attracting almost 130,000 visitors, CONEXPO-CON/AGG 2014 surpassed its previous edition with the second-highest attendance in the show's history.

Records were also set for the number of firms exhibiting – approximately 2,400 – and the expanse of exhibition space.

Not only did the Las Vegas show offer a platform for original equipment manufacturers (OEMs) to showcase their latest models, but it also provided an opportunity for networking on a global scale.

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