Deere's stock slides after profit and sales fall sharply and guidance is for more pain ahead

Dow Jones

13 Feb

MW Deere's stock slides after profit and sales fall sharply and guidance is for more pain ahead

Deere & Co.'s stock fell 6% early Thursday, after the maker of agricultural equipment 's fiscal first-quarter earnings fell sharply from a year ago and it guided for further steep sales decline in 2025/

Moline, Ill.-based Deere (DE) had per-share earnings of $3.19 for the quarter through Jan. 26, down from $6.23 a share a year ago. Sales fell 30% to $8.508 billion. The FactSet consensus was for EPS of $3.11 and sales of $7.700 billion.

"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," CEO John C. May said in prepared remarks.

The company is now expecting sales at its production and precision agriculture division to fell 15% to 20% in fiscal 2025. It expects small ag & turf sales to fall 10% and for construction and forestry sales to fell 10% to 15%. The guidance does not include any impact from tariffs by the U.S. or retaliatory actions by other countries.

(This is a breaking news story. Check back for updates)

-Ciara Linnane

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

February 13, 2025 06:20 ET (11:20 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 13, 2025 06:20 ET (11:20 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DE","symbol_name":"迪尔股份有限公司","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2511754391","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2511754391","pubTimestamp":1739445600,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Deere & Co.'s stock fell 6% early Thursday, after the maker of agricultural equipment 's fiscal first-quarter earnings fell sharply from a year ago and it guided for further steep sales decline in 2025/. 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