India, Feb. 13 -- Deere & Co. (DE) reported Thursday that net profit for the first quarter that nearly halved from last year, due to a double-digit drop in net sales across its three major operating segments amid lower shipment volumes. Earnings per share missed analysts' estimates, but quarterly revenues topped it. The company also maintained its net income guidance for the full-year 2025.
In pre-market activity on the NYSE, Deere shares are trading at $451.10, down $25.46 or 5.34 percent.
"Deere's performance in the first quarter highlights our continued focus on optimizing inventory levels of both new and used equipment amidst the uncertain market conditions our customers are facing," said John May, chairman and CEO.
For the first qua...