06:36 AM EST, 02/13/2025 (MT Newswires) -- Deere (DE) reported fiscal Q1 earnings Thursday of $3.19 per diluted share, down from $6.23 a year earlier.

Analysts polled by FactSet expected $3.11.

Net sales and revenues for the quarter ended Jan. 26 were $8.51 billion, down from $12.19 billion a year earlier.

Analysts surveyed by FactSet expected $7.7 billion.

For fiscal 2025, the company expects net income of $5 billion to $5.5 billion. Analysts surveyed by FactSet expect $5.26 billion.

The company shares were down over 8% in recent premarket activity.