Deere beats Q2 expectations with cost cuts, but trims profit forecast due to tariffs.

From Yahoo Finance: 2025-05-15 06:15:00

Deere & Co cut its profit forecast but beat Q2 expectations, citing cost-saving measures. Farmers prefer renting over buying machinery, impacting sales. Trump’s tariffs add to production costs, causing uncertainty. Deere expects tariffs to cost over $500 million. Company plans to invest $20 billion in U.S. Analysts predict ongoing challenges through 2025.

Read more: Deere beats second-quarter estimates on cost cuts, trims annual profit forecast