Deere & Co. Q1 EPS Miss Estimates, But Revenues Top; Backs FY25 Net Income Outlook
Deere & Co. reported Q1 earnings with a net income of $869 million ($3.19 per share), missing estimates of $3.25 per share. Revenues fell 30% to $8.51 billion, down from $12.19 billion a year ago. Despite the decline, the company maintained its FY25 net income guidance at $5.0 billion to $5.5 billion.
While reporting financial results for the first quarter on Thursday, Deere & Co. (DE) maintained its guidance for net income attributable to the company for the full-year 2025 in the range of $5.0 billion to $5.5 billion.
For the first quarter, the company reported net income attributable to Deere of $869 million or $3.19 per share, sharply lower than $1.75 million or $6.23 per share in the prior-year quarter.
Worldwide net sales and revenues for the quarter declined 30 percent to $8.51 billion from $12.19 billion in the same quarter last year. Net sales were $6.81 billion, down from $10.49 billion a year ago.
On average, analysts polled expected the company to report earnings of $3.25 per share on revenues of $7.89 billion for the quarter. Analysts' estimates typically exclude special items.
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