Deere Reports Q1 Net Income of $869 Million
- Full-year net income forecast remains steady despite currency fluctuations.
- Results reflect progress in streamlining field inventory amidst uncertain market conditions.
- Continued value delivery as customers navigate a challenging environment.
DeereĀ &Ā Company reported net income of $869 million for the first quarter ended January 26, 2025, or $3.19 per share, compared with net income of $1,751 million, or $6.23 per share, for the quarter ended January 28, 2024.
Worldwide net sales and revenues decreased 30 percent, to $8.508 billion, in the most recent quarter. Net sales were $6.809 billion for the quarter, compared with $10.486 billion in 2024.
āDeereās 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,ā said John C. May, chairman and chief executive officer. āWeāre seeing compelling evidence that our efforts are positioning the company to successfully navigate the current environment.ā
Company Outlook & Summary
Net income attributable to Deere & Company for fiscal 2025 is forecasted to remain in a range of $5.0 billion to $5.5 billion.
āThe 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,ā May added.
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