Deere & Co. shares were losing around 8 percent in the pre-market activity on the NYSE, after the firm on Thursday trimmed the higher end of its fiscal 2025 profit outlook range after reporting weak results in its third quarter. The farm and construction equipment manufacturer noted that its customers remain cautious amid ongoing uncertainty. Meanwhile, quarterly earnings per share and top line beat market estimates.
For the year, the company now projects net income attributable in a range of $4.75 billion to $5.25 billion, compared to previous estimate of $4.75 billion to $5.50 billion.
In the third quarter, Deere's net income fell 26 percent to $1.289 billion from $1.734 billion last year. Earnings per share were $4.75, lower than $6.29 a year ago.
The Wall Street analysts on average expected the company to report earnings of $4.59 per share. Analysts' estimates typically exclude special items.
Worldwide net sales and revenues decreased 8.6 percent percent to $12.018 billion from $13.152 billion last year.
Net sales were $10.357 billion for the quarter, compared with $11.387 billion last year. The Street was looking for net sales of $10.33 billion.
Production & Precision Agriculture net sales fell 16 percent from last year to $4.27 billion due to lower shipment volumes.
Small Agriculture & Turf net sales were $3.03 billion, down 1 percent due to lower shipment volumes, and Construction & Forestry net sales were down 5 percent to $3.06 billion primarily due to unfavorable price realization.
In the pre-market activity on the NYSE, the shares were losing around 7.5 percent to trade at $475.00.
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December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.