🔹 EPS: $4.75 (Est. $4.58) 🟢; -24% YoY
🔹 Revenue: $10.6B (Est. $10.35B) 🟢; -9% YoY
🔹 Net Income: $1.29B; -26% YoY
🔹 Sees FY Net Income: $4.75B–$5.25B (Prev. up to $5.50B) 🔴
Production & Precision Ag:
🔹 Sales: $4.27B; DOWN -16% YoY
🔹 Operating Profit: $580M; DOWN -50% YoY
🔹 Margin: 13.6% vs. 22.8% YoY
Small Ag & Turf:
🔹 Sales: $3.03B; DOWN -1% YoY
🔹 Operating Profit: $485M; DOWN -2% YoY
🔹 Margin: 16.0% vs. 16.2% YoY
Construction & Forestry:
🔹 Sales: $3.06B; DOWN -5% YoY
🔹 Operating Profit: $237M; DOWN -47% YoY
🔹 Margin: 7.7% vs. 13.8% YoY
Financial Services:
🔹 Net Income: $205M; UP +34% YoY
CEO Commentary (John May):
🔸 “Proactive inventory management allowed us to align production with retail demand and address high levels of used equipment, creating a healthier market.”
🔸 “Advanced technologies like See & Spray and Harvest Settings Automation are helping customers boost productivity despite industry challenges.”
