Deere & Company reported net income of $1.289 billion for the third quarter compared with $1.884 billion for the same period last year. For the first nine months of the fiscal year, net income attributable to Deere & Company was $4.459 billion, versus $7.797 billion in 2024.

“Disciplined execution and a clear focus on serving customers enabled us to deliver solid results in a challenging environment,” said John C. May, Chairman and Chief Executive Officer of Deere & Company. “Our teams continue to help farmers and construction customers navigate near-term pressures, while advancing the technology-driven solutions that define the future of our industries.”

Net sales and revenues decreased primarily due to lower shipment volumes in key equipment segments and a softer demand environment, particularly in large agricultural machinery. Deere noted that its strategy of supporting the used-equipment market and deploying precision ag technologies has helped mitigate the impact of reduced new-equipment sales.

The company has narrowed its full-year net income forecast to a range of $5.0 to $5.3 billion, citing cautious sentiment across the farm sector and heightened focus on capital discipline. Despite near-term headwinds, Deere reaffirmed its long-term growth trajectory, underscoring continued investment in automation, electrification, and smart farming solutions.

“Our outlook reflects a pragmatic view of current demand trends,” May added. “At the same time, we remain confident in the fundamentals of agriculture and infrastructure, and in our ability to create value for customers and shareholders over the long term.”