(Deere.com)

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.


The uncertainty surrounding the tariff threat has farm equipment dealers in both the U.S. and Canada feeling uneasy. | File photo

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.



(Luca Piccini Basile/iStock/Getty Images)

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.






Photo: iStock/Getty Images

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.