Deere & Company has announced its financial results for the first quarter ending January 26, 2025. The company reported a net income of $869 million, equating to $3.19 per share. This is a decrease from the previous year's first-quarter net income of $1,751 million, or $6.23 per share.
The company's worldwide net sales and revenues fell by 30 percent to $8.508 billion in the latest quarter, with net sales specifically at $6.809 billion compared to $10.486 billion in the same period in 2024.
John C. May, chairman and CEO of Deere & Company, commented on the results: “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.” He added that there is "compelling evidence" that their efforts are positioning the company well for current challenges.
Looking ahead, Deere & Company projects its fiscal 2025 net income to be between $5.0 billion and $5.5 billion. May stated, “The stability of our net income guidance not only reflects our resilience in a challenging market but also enables our sustained strategic investments to provide better outcomes for our customers.”
The release includes forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, which involve potential changes due to various risks and uncertainties affecting different parts of the company's operations.
Further information about Deere & Company's financial results can be found in their filings with the SEC.
For more details or media inquiries, Jen Hartmann, Director of Public Relations at Deere & Company, can be contacted via email at HartmannJenniferA@JohnDeere.com.