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.
Read also
Ukraine determines the origin of grain stolen by Russia with nearly 100% accuracy
EU allocates a package of aid to farmers for the purchase of fertilizers
Vegetable oil prices rise following crude oil prices
US pressures Ukraine to ease restrictions on imports of Belarusian potash fertilizers
China May Become the Main Driver of the Ukrainian Barley Market
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon