DE Preview: Ag Equipment Turnaround? By Brian Gilmartin About this article: Deere is scheduled to report first-quarter 2010 earnings on Wednesday, and analysts are expecting earnings of 19 cents a share on revenue of $4.19 billion, for year-over-year declines of 60% and 10%, respectively. Fiscal 2010's current consensus estimate of $2.56 a share is 9% below fiscal 2009's actual EPS of $2.81, but the 2010 consensus estimate is being depressed by an additional $400 million in pension expense due to a higher discount rate being utilized in 2010. (It looks like the $2.56 is operating EPS, although given the pension and other post-employment benefits expense, estimates are quite dispersed.) Perhaps a better gauge of financial health would be to look at revenue: The fiscal 2010 consensus estimate of $21.12 billion is 2% above fiscal 2009 revenue of $20.76 billion, thus analyst consensus for the current fiscal year is that earnings will fall 9% and revenue will grow 2%, as... To read the rest of this article and sign up for a FREE trial click here...

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