John Deere’s third-quarter profit fell by a quarter
American agricultural machinery manufacturer Deere & Co. reported a 9% drop in revenue to $12.02 billion (€10.29 billion) in the third quarter of fiscal 2025, while profit fell 25% to $1.29 billion (€1.10 billion).
The first two quarters saw even steeper declines: 30% and 16%, respectively. Sales for the first nine months of the fiscal year totaled $33.29 billion (€28.50 billion), down 18% from a year earlier.
The company said farmers had cut spending on new equipment, which was affecting all manufacturers. “Deere & Co. adjusted production volumes in line with demand to respond more quickly to market changes,” the company said.
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