Earnings Per Share (EPS) of $3.19, surpassing the estimated $3.11, marking a 1.92% surprise over expectations.
Revenue for the quarter was approximately $8.51 billion, exceeding the estimated $7.70 billion.
Net Income for the first quarter was $869 million, a significant decrease from the previous year’s $1.7 billion.
Deere & Company, listed as NYSE:DE, is a leading player in the manufacturing of farm equipment. The company is known for its innovative agricultural machinery and solutions. Deere competes with other industry giants like CNH Industrial and AGCO Corporation. Despite facing challenges, Deere continues to be a significant force in the market.
On February 13, 2025, Deere reported earnings per share (EPS) of $3.19, surpassing the estimated $3.11. This marks a 1.92% surprise over the expected figures, as highlighted by Zacks. However, this is a decrease from the $6.23 per share reported in the same quarter last year. Despite this decline, Deere has consistently outperformed consensus EPS estimates over the past four quarters.
Deere’s revenue for the quarter was approximately $8.51 billion, exceeding the estimated $7.70 billion. However, the actual revenue of $6.81 billion fell short of the Zacks Consensus Estimate by 11.51%. This is a significant drop compared to the $10.49 billion in revenues from the same period last year. Despite this, Deere has managed to exceed consensus revenue estimates three times in the last four quarters.
The company’s net income for the first quarter was $869 million, translating to $3.19 per share. This is a significant decrease compared to the previous year’s first-quarter net income of $1.7 billion, or $6.23 per share. Deere’s worldwide net sales and revenues fell by 30% to $8.508 billion in the most recent quarter, with net sales specifically at $6.809 billion, down from $10.486 billion in 2024.
Deere’s stock has experienced a significant decline following a sharp fall in earnings. The company is currently facing a challenging demand environment, resulting in considerably lower sales across its core operating segments. Despite these challenges, John C. May, the chairman and CEO, emphasized the company’s ongoing efforts to optimize inventory levels in response to uncertain market conditions.
