Illinois, United States – Deere & Company., an agricultural machinery manufacturer, reported first-quarter net income of $869 million, or $3.19 per share, for the period ending January 26, 2025, down from $1,751 million, or $6.23 per share, in the same quarter of 2024.
Worldwide net sales and revenues for Deere & Company fell by 30% to $8.508 billion in the most recent quarter. Of this, net sales totaled $6.809 billion, a significant decline from $10.486 billion in the same quarter of 2024.
Mr. John C. May, Chairman and Chief Executive Officer at John deere, said, “Deere’s performance in the first quarter highlights our continued focus on optimizing inventory levels of both new and used equipment amidst the uncertain market conditions our customers are facing. We’re seeing compelling evidence that our efforts are positioning the company to successfully navigate the current environment.”
Deere & Company expects net income for fiscal 2025 to be between $5.0 billion and $5.5 billion. This stable outlook highlights the company's resilience amid challenging market conditions, demonstrating its ability to maintain profitability despite economic uncertainties.
It also underscores Deere's commitment to strategic investments aimed at enhancing customer solutions and driving long-term growth. By maintaining steady financial performance, Deere can continue to invest in innovative technologies, expand its product offerings, and strengthen its global market presence, ultimately delivering better outcomes for its customers and stakeholders.
Deere maintains full-year net income forecast despite currency swings, reflecting progress in streamlining inventory amid market uncertainties. The company continues to deliver value as customers face challenging conditions.
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