Deere & Company reported higher profit and sales in its fiscal third quarter, driven by growth in its construction equipment business. The company posted a profit of $1.38 billion for the three months ended Aug. 2, compared with $1.29 billion in the prior year's comparable period. Earnings per share came in at $5.10, surpassing analyst expectations of $4.69 per share.

Net sales and revenues climbed 6.2% to $11 billion, ahead of Wall Street models for $10.81 billion. The total top-line figure reached $12.61 billion, reflecting strong performance across multiple segments.

However, Deere's production and precision agriculture division, its largest business unit, saw sales decline to $4 billion, down 6.4% from a year earlier. The company attributed this decrease primarily to lower shipment volumes, though gains in construction equipment helped offset the weakness in agricultural markets.