Moline, Ill.-Deere & Co.’s Commercial and Consumer division saw a 15 percent increase in sales in the third quarter and a six percent increase YTD, with the Lesco operations accounting for 11 percent and four percent, respectively. Sales were up primarily due to higher Lesco volumes and improved price realization. Operating profit for the division was $127 million on sales of $1.35 billion, versus the year-ago $78 million and $1.17 billion. Nine-month profit was $315 million on sales of $3.3 billion, versus the year-ago $225 million and $3.12 billion, respectively. For both periods, profits increased primarily due to improved price realization. The impact of higher sales volumes, largely associated with Lesco, was mainly offset by higher selling and administrative expenses of Lesco. Division sales are expected to be up 11 percent for the year, with $350 million of that from Lesco. Company-wide, net income was $537.2 million ($2.37 per diluted share) on sales of $6.63 billion, up from the year-ago $436.0 million ($1.85 per share) on sales of $6.26 billion. Nine-month net income was $1.4 billion ($6.12 per share) on sales of $17.94 billion, compared to the year-ago $1.41 billion ($5.96 per share) and $17.03 billion, respectively.
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