1307 ET - Deere left its FY25 profit guidance unchanged at $5 billion to $5.5 billion, but that now includes a significant 300 basis point reduction to the company's full-year tax rate, Raymond James analyst Tim Thein says in a research note. The reduction stems largely from favorable items in F1Q, the analyst says. Deere reported earnings of $869 million for F1Q, down 50% year-over-year, that includes $163 million of discrete tax benefits related to special items. "Therefore, when netted against the negative currency impacts and other quarterly items, our full year net income forecast remains unchanged," Deere's Josh Beal says on a call with analysts. (dean.seal@wsj.com)
(END) Dow Jones Newswires
February 13, 2025 13:07 ET (18:07 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。