Deere & Company announced a net income of $1.289 billion for the third quarter of fiscal 2025, translating to $4.75 per share, a decline from $1.734 billion or $6.29 per share in the same quarter of the previous year. For the first nine months of 2025, net income was $3.962 billion, down from $5.855 billion in the prior year. The company's worldwide net sales and revenues also fell by 9% to $12.018 billion for the third quarter and by 18% to $33.290 billion for the year-to-date period compared to last year. The company attributed these declines to lower shipment volumes and unfavorable price realizations across its segments, including production and precision agriculture, small agriculture and turf, and construction and forestry.
Additionally, Deere acquired businesses for $89 million to enhance its technology offerings, focusing on data utilization for customer profitability and efficiency. The company also recorded a non-cash impairment charge of $61 million related to its battery operations due to decreased demand. Furthermore, Deere entered into a partnership with Banco Bradesco to reduce risk in its Brazilian operations, resulting in a deconsolidation of its subsidiary Banco John Deere S.A. The company implemented employee-separation programs aimed at reducing redundancy and aligning with strategic priorities.
linkAug 14, 2025 06:00:49
Deere & Company announced the death of Sherry M. Smith, a director since 2011 and the board's lead director. Following her passing, the Board has reduced its size to ten members and appointed R. Preston Feight as Lead Director. Smith was recognized for her significant contributions to the company and her prior role as executive vice president and chief financial officer at Supervalu Inc.
Deere & Company is a global leader in agricultural, construction, and forestry equipment. The company emphasizes its commitment to delivering technology-enabled products and financial services to meet growing global demands. For further details, investors can refer to the company's official communications and website.
linkJul 07, 2025 11:34:42
Deere & Company announced a net income of $1.804 billion for the second quarter ending April 27, 2025, translating to $6.64 per share. This represents a decrease from the previous year's net income of $2.370 billion, or $8.53 per share. For the first half of the fiscal year, net income was $2.673 billion, down from $4.121 billion in the same period last year. The company's worldwide net sales and revenues also saw a significant decline of 16% in the second quarter, totaling $12.763 billion, and a 22% decrease for the first six months, amounting to $21.272 billion. The report highlighted challenges in shipment volumes and unfavorable currency effects impacting their production and precision agriculture segment significantly, which reported a 21% decline in net sales for the quarter.
In terms of segment performance, the production and precision agriculture sector saw a 30% drop in operating profit, while the construction and forestry segment experienced a 43% decrease in operating profit. The small agriculture and turf segment reported a slight increase in operating profit despite a 6% decline in net sales. Additionally, the company noted that financial services net income remained flat year-over-year. Deere’s outlook for fiscal 2025 includes anticipated declines in various agricultural and construction equipment markets, as well as the impacts of global import tariffs that are currently in effect.
linkMay 15, 2025 06:00:20
Deere & Company announced a net income of $869 million for the first quarter of fiscal 2025, translating to $3.19 per share. The company is maintaining its full-year net income forecast between $5.0 billion and $5.5 billion, despite a 30% decrease in worldwide net sales and revenues compared to the previous year. The results reflect ongoing efforts to streamline inventory levels and adapt to challenging market conditions, which the CEO believes are positioning the company for future success.
Conversely, the company experienced a significant decline in sales across all major segments, with production and precision agriculture sales down 37%, small agriculture and turf down 28%, and construction and forestry down 38%. Operating profit saw a steep drop of 64%, primarily due to lower shipment volumes and unfavorable sales mix. The financial services segment reported a slight increase in net income, but overall, the results indicate the impact of market uncertainties and currency fluctuations on performance.
linkFeb 13, 2025 06:00:24
Deere & Company has announced an increase in its quarterly dividend to $1.62 per share, which will be paid on February 10, 2025. This new rate reflects a rise of 15 cents compared to the previous dividend of $1.47 per share, indicating a commitment to returning value to shareholders.
However, the announcement does not provide any context regarding the company's overall financial performance or any potential challenges it may face, leaving investors without a complete picture of the company's current situation beyond the dividend increase.
linkDec 03, 2024 14:24:19
Deere & Company announced a net income of $1.245 billion for the fourth quarter of fiscal 2024, amounting to $4.55 per share, although this reflects a significant decrease from $2.369 billion or $8.26 per share in the same quarter last year. For the full fiscal year, the company's net income was $7.1 billion, down from $10.166 billion in 2023. The report highlighted a 28% decrease in worldwide net sales and revenues for the fourth quarter, totaling $11.143 billion, and a 16% decline for the entire year, which amounted to $51.716 billion. The company attributed these declines to lower shipment volumes across its segments amidst challenging market conditions.
On a segment basis, net sales in Production & Precision Agriculture fell 38% to $4.305 billion, and operating profit dropped 64%. Small Agriculture & Turf and Construction & Forestry also experienced significant sales declines of 25% and 29%, respectively. Additionally, financial services reported a 9% decrease in net income due to a higher provision for credit losses. The company's proactive adjustments to operations amid market challenges were noted, but the overall performance reflected considerable setbacks in revenue and profitability compared to the previous year.
linkNov 21, 2024 06:00:28
Deere & Company has appointed R. Preston Feight, CEO of PACCAR Inc, to its board of directors, expanding the board to 12 members. Feight brings extensive experience from his 26 years at PACCAR, where he has contributed to advancements in engineering and technology, particularly in powertrains and driver assistance systems. His background aligns with Deere's transformation efforts, and his previous collaboration with the company is noted as beneficial for their ongoing initiatives.
While the press release highlights Feight's qualifications and the positive aspects of his appointment, it does not mention any specific challenges or potential concerns regarding his integration into the Deere board. There is no indication of any negative points related to this change, focusing instead on the advantages of his leadership experience and the overall growth of the board.
linkNov 01, 2024 07:00:43
Deere & Company announced a notable decrease in its third-quarter earnings, reporting a net income of $1.734 billion, which is a 42% drop compared to the same quarter last year. The company's sales also fell by 17%, reflecting challenges in both the agricultural and construction sectors. Despite these setbacks, the CEO highlighted the company's resilience and commitment to adapting to market fluctuations while maintaining a focus on delivering value to customers. The company has implemented cost-reduction strategies and aligned production with customer needs to navigate the tough market conditions.
On a positive note, Deere's financial services segment showed growth, with a 21% increase in revenues for the quarter. Additionally, the company is taking proactive measures to improve its competitive stance, including employee-separation programs aimed at reducing redundancies. While the overall market outlook remains challenging, Deere's leadership expressed confidence in its strategy and ability to continue investing in innovative products that enhance customer experiences.
linkAug 15, 2024 06:00:30
Deere & Company maintains its earnings guidance despite announcing a plan to reduce its production and salaried workforce. The reduction is aimed at aligning with strategic goals and reducing role redundancies. The company warns of potential risks from macroeconomic conditions and unintended consequences of the workforce realignment. Forward-looking statements indicate uncertainties in the impact and timing of the reduction, emphasizing that actual results may differ. Deere & Company commits to updating information as required by law but does not guarantee future performance.
linkJun 05, 2024 06:01:01
Deere & Company's net income for the second quarter decreased to $2.370 billion, with a drop in worldwide net sales and revenues. Despite challenges in the agricultural sector, the company remains committed to innovation and technology investments. The company expects net income for fiscal 2024 to be around $7.0 billion. While there were decreases in sales and operating profits in various segments, financial services saw a substantial increase in net income. Market outlooks for agriculture and construction sectors show downward trends, but Deere aims to manage production levels and invest in future growth.
linkMay 16, 2024 06:01:05