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Deere & Company (DE) Reports Weaker Q3, Tariffs to Cost $600M, Workforce Cuts Begin
Yahoo Finance· 2025-09-26 14:26
Core Insights - Deere & Company is facing a slowdown in farm demand but is positioning for long-term growth through technology and manufacturing investments [1][3] - The company reported weaker fiscal third-quarter results, with declines in sales and net income due to lower crop prices and macroeconomic pressures [2][5] - Deere plans to invest $20 billion over the next decade to enhance U.S. manufacturing and accelerate innovation [3][4] Financial Performance - In September 2025, Deere reported weaker fiscal third-quarter results, with declines in sales and net income as farmers reduced spending [2] - The company anticipates tariffs will impact earnings by approximately $600 million this year [2][5] Strategic Initiatives - Deere is committing $20 billion over the next decade for U.S. manufacturing and innovation, including a $70 million excavator factory in North Carolina [3] - The Smart Industrial Strategy focuses on autonomous and connected equipment, showcased at CES 2025 with autonomous tractors and dump trucks [4][5] Leadership Changes - Deere has restructured its leadership team with new appointments to enhance customer value through smarter, connected equipment [5]
John Deere pledges to pour $20B into its US operations to ‘continue building and investing in America'
New York Post· 2025-08-09 09:25
Core Viewpoint - John Deere is committing to invest nearly $20 billion over the next decade to enhance its US operations and support American manufacturing [1][5]. Investment Focus - The investment will focus on developing new products, advanced technology, and improved manufacturing capabilities [2]. Recent Developments - John Deere is constructing a $70 million factory in Kernersville, North Carolina, dedicated to manufacturing excavators [3]. - A $40 million expansion has been completed at the Des Moines, Iowa factory to produce See & Spray sprayers, which utilize computer vision and AI for weed detection [4]. - The company has invested nearly $150 million to renovate its East Moline, Illinois factory for the production of new X9 combines, which increase harvesting capacity by approximately 45% [6]. Employment and Sales - Nearly 80% of John Deere's US sales and 25% of international sales come from domestically manufactured products [7]. - The company employs around 30,000 people across more than 60 US locations, with an additional 50,000 employed by its network of independent US dealerships [7].