Deere sees FY25 Production and Precision Ag net sales down 15%-20%

Sees FY25 Production and Precision Ag operating margin 15.5%-17%. Sees FY25 Small Ag and Turf net sales down approx. 10%, operating margin 12%-13.5%. Sees FY25 Construction Forestry net sales down 10-15%, operating margin 8.5%-10%. Sees FY25 Financial Services net income approx. $770M. Sees FY25 effective tax rate 19%-21%, net operating cash flow $4.5B-$5.5B, R&D expenses down slightly, CapEx approx. $1.4B. Comments taken from Q3 earnings conference call presentation slides.