Deere & Co Q4 2025 Net Income Declines 14%

By Greg Peters • Wednesday, November 26 15:34 • Permanent Link

Deere & Company reported a net income of $1.065 billion for the fourth quarter ended November 2, 2025, compared with $1.245 billion for the same period in 2024, reflecting a 14% decrease. For the fiscal year 2025, net income attributable to Deere & Company was $5.027 billion, down 29% from $7.100 billion in fiscal 2024.

The worldwide net sales and revenues for the fourth quarter of 2025 increased by 11% to $12.394 billion, compared to $11.143 billion in the fourth quarter of 2024. However, for the full year, net sales and revenues decreased by 12% to $45.684 billion, down from $51.716 billion in fiscal 2024.

In terms of specific segments, the production & precision agriculture net sales for the fourth quarter of 2025 were $4.740 billion, up 10% from $4.305 billion in the same period in 2024. However, the operating profit for this segment decreased by 8% to $604 million from $657 million in the fourth quarter of 2024.

Small agriculture & turf net sales for the fourth quarter of 2025 were $2.457 billion, reflecting a 7% increase from $2.306 billion in the fourth quarter of 2024. However, the operating profit for this segment decreased significantly by 89% to $25 million from $234 million in the fourth quarter of 2024.

Construction & forestry net sales for the fourth quarter of 2025 were $3.382 billion, up 27% from $2.664 billion in the same period in 2024. The operating profit for this segment increased by 6% to $348 million from $328 million in the fourth quarter of 2024.

In the financial services segment, net income for the fourth quarter of 2025 was $293 million, showing a significant increase of 69% from $173 million in the same period of 2024.

Looking ahead, the company forecasts a net income attributable to Deere & Company for fiscal 2026 in the range of $4.00 billion to $4.75 billion, with expectations of a bottoming-out of the large ag cycle. The company also provided outlooks for various segments, with specific details on the expected changes in net sales and income for fiscal 2026. The market has reacted to these announcements by moving the company's shares -4.14% to a price of $477.51. For the full picture, make sure to review DEERE & CO's 8-K report.

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