Deere & Co reported a lower third-quarter profit and tightened its annual profit forecast on Thursday, as U.S. tariffs dent margins on its farm equipment, sending the company's shares down six per cent.
Combines
Deere’s quarterly profit falls as U.S. tariffs bite farm equipment margins
Tractor, combine sales face downward trend
Sales of farm tractors and combines have declined over the last year in North America
Sales of combines are a handy gauge for farmer optimism. This winter, farmers weren’t feeling it.
Deere misses revenue estimates on subdued farm equipment demand
Outlook did not account for any impact from potential import tariffs, retaliatory tariffs company says
Deere's quarterly revenue slumped 35 per cent and missed analysts' expectations as more farmers switched to renting equipment due to weak incomes and high borrowing costs, sending its shares down nearly 4.5 per cent in morning trading on Thursday. The company said its outlook did not account for any impact from potential import tariffs by the U.S. and any retaliatory actions taken by other countries.
Tariffs add to ‘perfect storm’ for ag equipment dealers
Commodity prices, high inventories and interest rates already pressuring sales as U.S. now threatens more disruption
The uncertainty surrounding the threat of substantial tariffs on key U.S. trading partners has North American businesses on edge. That is especially true for agricultural equipment manufacturers and the dealers that retail their products.
Deere boosts bet on autonomous tractors with new machines
Deere & Co strengthened its bet on autonomous machinery by unveiling new tractors and industrial equipment, capable of operating without the need for a human being in the cab, at the CES trade show in Las Vegas on Monday.
Canadian farm equipment sales projected to slump in 2025
Farm machinery sales are forecast to decline for the remainder of the year and into the next. New equipment sales are expected to be soft as farmers face low commodity prices, high equipment prices and lower profits, though the decline in 2025 is expected to be less severe than in 2024. Sales of 4WD tractors are projected to stay above the five-year average.
Deere forecasts weak annual profit as farm incomes sag
Deere & Co forecasted lower-than-expected 2025 profit on Thursday, as slumping farm incomes and inflationary pressures affect demand for the company's tractors and other agricultural equipment.
CNH Industrial shares fall after third-quarter profit miss, forecast cut
Shares of CNH Industrial fell more than 10 per cent premarket on Friday, after the farm and construction equipment maker missed third-quarter profit estimates and cut its 2024 profit forecast due to weak demand and reduced dealer inventory requirements.
Trump threatens John Deere with 200 per cent tariffs if production moves to Mexico
Republican presidential candidate Donald Trump said on Monday he would slap a 200 per cent tariff on John Deere's imports into the United States if the agricultural equipment company moved production to Mexico as planned.
Alberta’s harvest ahead of average pace
Combining in Alberta reached 20 per cent complete as of Aug. 27, according to the latest provincial crop report issued Aug. 30. The harvest was eight points ahead of the five-year average. Also, nine per cent of Alberta’s crops have been swathed and 70 per cent remain standing.
Canadian Cattlemen Presents: Depth of Field
