John Deere reported slightly better figures for the second quarter of its fiscal year than at the beginning of the year. Sales and net profit from February to April 2025 fell by 16% to $12.76 billion and 24% to $1.15 billion, respectively, compared to the previous year. In the first three months of the fiscal year, the declines were 30% and just over 50%, respectively. Nevertheless, the annual profit forecast was lowered at the lower end.
Deere & Company reported net income of $1.804 billion for the second quarter ended April 27, 2025, or $6.64 per share, compared with net income of $2.370 billion, or $8.53 per share, for the quarter ended April 28, 2024. For the first six months of the year, net income attributable to Deere & Company was $2.673 billion, or $9.82 per share, compared with $4.121 billion, or $14.74 per share, for the same period last year.
Worldwide net sales and revenues decreased 16 percent, to $12.76 billion, for the second quarter of 2025 and decreased 22 percent, to $21.27 billion, for six months. Net sales were $11.17 billion for the quarter and $17.98 billion for six months, compared with $13.61 billion and $24.09 billion last year, respectively.
“As we navigate the current environment, our customers remain our top priority,” said John May, chairman and CEO of John Deere. “I’m incredibly proud of our team’s execution this quarter, delivering exceptional performance despite challenging market dynamics. Their dedication and hard work have been instrumental in ensuring our customers continue to receive the high-quality service and products they expect from John Deere.”
Net income attributable to Deere & Company for fiscal 2025 is forecasted to be in a range of $4.75 billion to $5.50 billion.
Deere is predicting 5 per cent industry drop in agricultural machinery sales across Europe and a similar decline in construction and forestry machinery sales. “Despite the near-term market challenges, we remain confident in the future,” said May. “Our commitment to delivering value for our customers includes ongoing investment in advanced products, solutions, and manufacturing capabilities. Over the next decade, we will continue to make significant investments in our core U.S. market, underscoring our dedication to innovation and growth while focusing on remaining cost-competitive in a global market.”
