Key Takeaways:
- John Deere posts net income of $2.18 billion for Q3 2025, down from $2.68 billion in the same quarter last year.
- Net sales and revenues declined 12% year-over-year to $13.81 billion.
- Full-year net income forecast revised upward to between $7.5 and $7.75 billion.
- Management highlights softening demand in agriculture and construction but emphasizes strong long-term fundamentals.
John Deere Third Quarter Financial Performance
John Deere announced third quarter 2025 net income of $2.18 billion, or $7.74 per share, compared with $2.68 billion, or $9.65 per share, for the same period in 2024. Net sales and revenues were $13.81 billion, a 12% decline compared to $15.77 billion a year ago.
For the first nine months of fiscal 2025, John Deere reported net income of $5.48 billion, versus $7.86 billion during the same period in 2024.
John Deere Outlook Raised Despite Lower Sales
Despite softer markets, John Deere raised its full-year 2025 forecast, now expecting net income of $7.5 to $7.75 billion, compared with the previous guidance of $7.0 to $7.5 billion.
“Although demand has softened from the peaks of recent years, the long-term outlook for agriculture and construction remains positive,” said John C. May, chairman and CEO.
Segment Performance
- Production & Precision Agriculture: Sales fell 16% to $5.51 billion, mainly due to lower shipment volumes and unfavorable foreign exchange impacts.
- Small Agriculture & Turf: Net sales decreased 10% to $3.66 billion, reflecting lower shipment volumes.
- Construction & Forestry: Net sales dropped 9% to $4.63 billion, driven by weaker construction activity.
Worldwide sales of equipment operations were $13.80 billion, down 12% compared to last year.
John Deere Strategic Priorities
Management emphasized that while near-term conditions show reduced demand in agriculture and construction equipment, John Deere continues to invest in technology, automation, and precision agriculture solutions. The company believes these initiatives will help customers improve productivity and efficiency while strengthening its long-term market position.
Summarizing The Financial Performance
| Category | Q3 2025 | Q3 2024 |
|---|---|---|
| Net Income | $2.18 billion | $2.68 billion |
| Earnings Per Share (EPS) | $7.74 | $9.65 |
| Net Sales & Revenues | $13.81 billion | $15.53 billion* |
Read the company’s complete financial results for Q3 2025.
John Deere
Deere & Company, operating as John Deere, is an American corporation headquartered in Moline, Illinois. The company manufactures agricultural machinery, heavy equipment, forestry machinery, diesel engines, and drivetrains, as well as offering financial services and related activities.
John Deere is listed on the New York Stock Exchange under the symbol DE. The company’s well-known slogan is “Nothing Runs Like a Deere,” and it has used a leaping deer logo in various forms for over 155 years. In 2022, it ranked No. 84 on the Fortune 500 list of the largest U.S. corporations. Its tractor series include D Series, E Series, Specialty Tractors, Super Heavy Duty Tractors, and JDLink.
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