The earnings call presents a mixed outlook with significant revenue and sales declines, particularly in production, precision ag, and construction segments. However, there are positive aspects such as improved margins, strong performance in financial services, and increasing technology adoption. Global sentiment is also showing signs of improvement. The overall sentiment is balanced with challenges and improvements being noted.

Company Guidance

During Deere & Company's first quarter earnings call, several key metrics and guidance for fiscal 2025 were discussed. The company reported net sales and revenues down 30% to $8.508 billion, with equipment operations sales down 35% to $6.809 billion. Net income stood at $869 million, or $3.19 per diluted share, aided by $163 million in discrete tax benefits. The production and precision ag segment saw a 37% decline in net sales to $3.067 billion, while the small ag and turf segment experienced a 28% drop to $1.748 billion. Operating margins were reported at 11% and 7.1% for these segments, respectively. For the full year, the company forecasts production precision ag net sales to decrease by 15-20% and small ag and turf by 10%, with operating margins expected between 16-17% and 13-14% for these segments. The construction and forestry net sales fell 38% to $1.994 billion, with an operating margin of 3.3%, and are forecasted to decline by 10-15% for the year. Worldwide financial services net income was $230 million, with a full-year outlook of $750 million. Deere's full-year net income guidance remains between $5 billion and $5.5 billion, with an effective tax rate between 20% and 22% and operating cash flow projected between $4.5 billion and $5.5 billion.

Positive Margin Improvements

Deere & Company completed the first quarter with a 7.7% margin for equipment, reflecting improvements over past quarters despite overall sales declines.

Strong Financial Services Performance

Worldwide Financial Services net income attributable to Deere & Company in the first quarter was $230 million, favorably impacted by a decreased valuation allowance on assets held for sale.

Improved Technology Adoption

Over 1,500 Precision Ag Essentials kits were ordered in Brazil, along with over 1,200 orders for JDLink Boost, signaling strong technology adoption.

Global Market Sentiment Improvement

Farmer sentiment is improving globally, with favorable currency movements in Brazil and better dairy and livestock margins in Europe.

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Deere (DE) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 16, 2025	2025 (Q2)	5.64 / -	8.53	―	―	―
Feb 13, 2025	2025 (Q1)	3.12 / 3.19	6.23	-48.80% (-3.04)
Nov 21, 2024	2024 (Q4)	3.87 / 4.55	8.26	-44.92% (-3.71)
Aug 15, 2024	2024 (Q3)	5.67 / 6.29	10.2	-38.33% (-3.91)
May 16, 2024	2024 (Q2)	7.91 / 8.53	9.65	-11.61% (-1.12)
Feb 15, 2024	2024 (Q1)	5.24 / 6.23	6.55	-4.89% (-0.32)
Nov 22, 2023	2023 (Q4)	7.46 / 8.26	7.44	11.02% (+0.82)
Aug 18, 2023	2023 (Q3)	8.22 / 10.20	6.16	65.58% (+4.04)
May 19, 2023	2023 (Q2)	8.59 / 9.65	6.81	41.70% (+2.84)
Feb 17, 2023	2023 (Q1)	5.54 / 6.55	2.92	124.32% (+3.63)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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DE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 13, 2025	$476.56	$466.22	-2.17%
Nov 21, 2024	$403.42	$435.87	+8.04%
Aug 15, 2024	$348.71	$370.53	+6.26%
May 16, 2024	$409.39	$390.02	-4.73%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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