John Deere(US:DE)2025-08-14 10:00Financial Performance - Deere & Company reported a net income of $1.289 billion for Q3 2025, a decrease of 26% from $1.734 billion in Q3 2024, resulting in earnings per share of $4.75 compared to $6.29 last year[1][6]. - Worldwide net sales and revenues decreased by 9% to $12.018 billion for Q3 2025, and by 18% to $33.290 billion for the first nine months of the year[2][22]. - The company forecasts full-year net income for fiscal 2025 to be in the range of $4.75 billion to $5.25 billion[3][5]. - Deere's total operating profit for Q3 2025 was $1.568 billion, a decrease of 32% from $2.297 billion in Q3 2024[22]. - Net income attributable to Deere & Company for the nine months ended July 27, 2025, was $3,962 million, down 32.3% from $5,855 million in the same period of 2024[25]. - Net income attributable to Deere & Company for the three months ended July 27, 2025, was $1,084 million, down from $1,581 million in the same period of 2024, representing a decline of 31.4%[41]. - Total net income for the nine months ended July 27, 2025, was $3,938 million, down from $5,846 million in the same period of 2024, a decline of 32.6%[44]. - Net income for the nine months ended July 27, 2025, was $3,341 million, a decrease of 37.2% from $5,323 million in 2024[49]. Segment Performance - The Production & Precision Agriculture segment saw net sales drop by 16% to $4.273 billion, with operating profit declining by 50% to $580 million[7][22]. - Small Agriculture & Turf net sales decreased by 1% to $3.025 billion, with operating profit down 2% to $485 million[10][22]. - Construction & Forestry segment net sales fell by 5% to $3.059 billion, and operating profit decreased by 47% to $237 million[13][22]. Cash Flow and Investments - Cash flows from operating activities for the nine months ended July 27, 2025, were $3,464 million, a decrease from $4,139 million in the same period of 2024[29]. - The company reported a net cash used for investing activities of $801 million for the nine months ended July 27, 2025, compared to $3,671 million in the same period of 2024[29]. - Cash flows from operating activities totaled $3,338 million in 2025, down from $5,702 million in 2024, reflecting a decline of 41.5%[49]. - The company repurchased common stock amounting to $1,136 million in 2025, down from $3,227 million in 2024, reflecting a decrease of 64.8%[49]. Assets and Liabilities - The total assets as of July 27, 2025, were $107,817 million, compared to $107,841 million as of July 28, 2024[27]. - Total liabilities as of July 27, 2025, were $82,553 million, a decrease from $84,692 million as of July 28, 2024[27]. - Stockholders' equity for Deere & Company increased to $25.175 billion in July 2025, compared to $22.836 billion in July 2024, marking an increase of 10.2%[47]. - Total liabilities decreased to $82.553 billion in July 2025 from $84.395 billion in July 2024, a reduction of 2.2%[47]. Research and Development - Research and development expenses for the nine months ended July 27, 2025, were $1,631 million, slightly down from $1,664 million in the same period of 2024[44]. Market Outlook - Deere's outlook for the agriculture and turf market in the U.S. and Canada indicates a decline of approximately 30% for large agriculture and 10% for small agriculture and turf[16][18]. Technology and Innovation - The company is committed to advancing technologies like See & Spray and Harvest Settings Automation to enhance customer productivity[4][18]. Other Financial Metrics - The provision for income taxes for the three months ended July 27, 2025, was $339 million, compared to $625 million in the same period of 2024, a decrease of 45.8%[41]. - The provision for credit losses increased to $258 million in 2025 from $222 million in 2024, representing a rise of 16.2%[49].