Moline, Illinois – Deere & Company., an agricultural machinery manufacturer, has reported a drop in net income for the second quarter of fiscal 2024–2025, reflecting ongoing challenges in the global equipment market. The company posted net income of $1.804 billion for the quarter ended April 2025, down from $2.370 billion during the same period last year.
For the first half of the fiscal year, net income attributable to Deere & Company totaled $2.673 billion, compared with $4.121 billion in the first six months of fiscal 2023–2024.
Deere’s worldwide net sales and revenues fell by 16% in the second quarter to $12.763 billion, and declined 22% over six months to $21.272 billion. Net equipment sales were $11.171 billion for the quarter and $17.980 billion year-to-date, down from $13.610 billion and $24.097 billion in the same periods last year, respectively.
Mr. John May, Chairman and CEO of Deere & Company, said, “As we navigate the current environment, our customers remain top priority. I’m proud of our team’s execution, delivering exceptional performance despite challenging market dynamics. Our commitment to delivering value for our customers includes ongoing investment in advanced products, solutions, and manufacturing capabilities. Deere plans to make significant investments in its core U.S. market, reinforcing its dedication to innovation, growth, and global competitiveness.”
Looking ahead, Deere forecasts full-year net income for fiscal 2025 to be between $4.75 billion and $5.50 billion. May emphasized the company’s long-term vision and resilience.
With a focus on cost efficiency and customer-centric solutions, Deere & Company is positioning itself to remain a key player in the agriculture and construction equipment industries, even amid fluctuating global market conditions.
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