🔹 EPS: $3.19 (Est. $3.12) 🟢
🔹 Revenue: $8.51B (Est. $7.7B) 🟢
🔹 Net Income: $869M (Est. $848.7M) 🟢
FY25 Guidance:
🔹 Net Income: $5.0B-$5.5B (Est. $5.21B) 🟡
🔹 Small Ag & Turf Sales Down About 10% 😕
🔹 Construction & Forestry Sales Down 10%-15%
🔹 Financial Services Net About $750M
🔸 FY25 Segment Sales Outlook Doesn't Reflect Impacts of Potential U.S. Import Tariffs, Retaliatory Actions 😕
Segment Performance (Q1):
🔹 Production & Precision Agriculture Sales: $3.07B; DOWN -37% YoY
🔹 Small Agriculture & Turf Sales: $1.75B; DOWN -28% YoY
🔹 Construction & Forestry Sales: $1.99B; DOWN -38% YoY
Other Key Metrics:
🔹 Global Net Sales and Revenues: $6.81B; DOWN -30% YoY
🔹 Operating Income Margin: Not disclosed for Q1
Strategic and Shareholder Updates:
🔹 Deere maintained its FY2025 outlook despite muted farm equipment demand due to high borrowing rates and a 23% drop in U.S. farm income YoY (as per USDA data).
🔹 Announced expanded self-repair capabilities integrated into Deere’s digital solutions to enhance productivity for customers and technicians.
Management Commentary:
🔸 CEO’s Insight: "Despite challenges in the farm equipment market, Deere remains focused on long-term investments to enhance customer productivity and profitability."
