Deere | 10-Q: FY2025 Q3 Revenue: USD 12.02 B

LB filings
2025.08.28 15:41
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Revenue: As of FY2025 Q3, the actual value is USD 12.02 B.

EPS: As of FY2025 Q3, the actual value is USD 4.75, beating the estimate of USD 4.5859.

EBIT: As of FY2025 Q3, the actual value is USD 1.6 B.

Production and Precision Agriculture (PPA) Segment

  • Net Sales: $4,273 million for the three months ended July 27, 2025, compared to $5,099 million for the same period in 2024, a decrease of 16%.
  • Operating Profit: $580 million for the three months ended July 27, 2025, compared to $1,162 million for the same period in 2024, a decrease of 50%.
  • Operating Margin: 13.6% for the three months ended July 27, 2025, compared to 22.8% for the same period in 2024.

Small Agriculture and Turf (SAT) Segment

  • Net Sales: $3,025 million for the three months ended July 27, 2025, compared to $3,053 million for the same period in 2024, a decrease of 1%.
  • Operating Profit: $485 million for the three months ended July 27, 2025, compared to $496 million for the same period in 2024, a decrease of 2%.
  • Operating Margin: 16.0% for the three months ended July 27, 2025, compared to 16.2% for the same period in 2024.

Construction and Forestry (CF) Segment

  • Net Sales: $3,059 million for the three months ended July 27, 2025, compared to $3,235 million for the same period in 2024, a decrease of 5%.
  • Operating Profit: $237 million for the three months ended July 27, 2025, compared to $448 million for the same period in 2024, a decrease of 47%.
  • Operating Margin: 7.7% for the three months ended July 27, 2025, compared to 13.8% for the same period in 2024.

Financial Services (FS) Segment

  • Revenue: $1,544 million for the three months ended July 27, 2025, compared to $1,667 million for the same period in 2024, a decrease of 7%.
  • Net Income: $205 million for the three months ended July 27, 2025, compared to $153 million for the same period in 2024, an increase of 34%.

Cash Flow

  • Net Cash Provided by Operating Activities: $3,464 million for the nine months ended July 27, 2025, compared to $4,139 million for the same period in 2024.
  • Net Cash Used for Investing Activities: -$801 million for the nine months ended July 27, 2025, compared to -$3,671 million for the same period in 2024.
  • Net Cash Used for Financing Activities: -$1,557 million for the nine months ended July 27, 2025, compared to -$789 million for the same period in 2024.

Future Outlook and Strategy

  • Agriculture and Turf Outlook for 2025: Demand for large agricultural equipment in the U.S. and Canada is expected to decline due to high interest rates, elevated used inventory levels, trade uncertainty, and lower commodity prices. However, constrained global grain and oilseed stocks, stable customer balance sheets, and strong crop yields are expected to partially mitigate this decline.
  • Construction and Forestry Outlook for 2025: Construction industry sales for earthmoving equipment are forecasted to be down, and compact construction equipment sales are expected to be flat to down in the U.S. and Canada from 2024 levels due to trade uncertainty and higher interest rates.
  • Financial Services Outlook for 2025: Net income is expected to be up, with favorable impacts from prior and current period special items and selling, administrative, and general expenses, although financing spreads are expected to be unfavorable.
Source: LB filings The copyright of this article belongs to the original author/organization.
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