Deere Announces Layoffs on Ag Side

By: Gretchen Teske
Source: Moline Dispatch and Rock Island Argus, Ill. (TNS)

Editors note: Following release of its financial reports, Deere announced layoffs of 238 employees at its Harvester Works in East Moline, Illinois; Seeding and Cylinder in Moline, Illinois; and Foundry in Waterloo, Iowa.

Deere & Company reported net income of $1.289 billion for the third quarter of its 2025 fiscal year.

That translates to $4.75 per share for the quarter, which ended July 27. That is down 26% from the third quarter of the company’s last fiscal year, which landed at $1.734 billion in net income, or $6.29 per share.

For the first nine months of the fiscal year, net income attributable to Deere was $3.962 billion. Last year at the same time, net income was sitting at $5.855 billion.

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Worldwide net sales and revenues fell 9%, to $12.018 billion, for the third quarter of FY2025 and decreased 18%, to $33.290 billion, for the nine month period, compared to last fiscal year.

Net sales were $10.357 billion for the quarter and $28.338 billion for the nine month period, compared with $11.387 billion and $35.484 billion last year, respectively.

“By proactively managing inventory, we’ve matched production to retail demand, enabling our company and dealers to respond swiftly to market shifts and customer needs,” John May, chairman/CEO of John Deere, said in a Thursday news release. “By continuing to address the high levels of used equipment in the industry, we’re building a healthier market for everyone—our customers, our dealers, and our business—even in these challenging times.”

Net income attributable to Deere & Company for fiscal 2025 is forecast to be in a range of $4.75 billion to $5.25 billion. This is down slightly from what was projected during the Q2 earnings call, where Deere cited the range could be as high as $5.5 billion.

“We remain committed to delivering solutions that address our customers’ current needs while also laying the groundwork for future growth. For example, the increasing utilization and proven in-field effectiveness of advanced technologies—such as See & Spray and Harvest Settings Automation—are empowering customers to improve their productivity and better navigate industry challenges,” May said. “The positive outcomes we’re enabling reinforce our confidence in Deere’s future despite near-term uncertainty.”