(Moline, IL) — John Deere and Company says reduced demand and tariff costs led to lower third-quarter profits.
The agricultural equipment manufacturer is reporting net sales and net revenue drops of 9% each and a 26% drop in net income during Q3. The company says tariffs have cost them $300 million this year and forecast a total tariff cost of $600 million by year’s end.
Deere & Company says they’ve proactively managed inventory to match production to demand. “By proactively managing inventory, we’ve matched production to retail demand, enabling our company and dealers to respond swiftly to market shifts and customer needs,” said John May, chairman and CEO of John Deere. “By continuing to address the high levels of used equipment in the industry, we’re building a healthier market for everyone—our customers, our dealers, and our business—even in these challenging times.”
Deere & Company reported net income of $1.289 billion for the third quarter ended July 27, 2025, or $4.75 per share, compared with net income of $1.734 billion, or $6.29 per share, for the quarter ended July 28, 2024. For the first nine months of the year, net income attributable to Deere & Company was $3.962 billion, or $14.57 per share, compared with $5.855 billion, or $21.04 per share, for the same period last year.
Read more here: https://www.deere.com/en/news/all-news/fy25-third-quarter-earnings/