Deere & Company reported its second-quarter earnings for fiscal year 2024, showing a net income of $2.37 billion, surpassing the estimated $2.16 billion. The company's earnings per share (EPS) stood at $8.53, beating the forecasted $7.87. Net sales for Production and Precision Agriculture reached $6.58 billion, and Construction and Forestry net sales were $3.84 billion, both exceeding expectations. Revenue for the quarter was $15.24 billion, and the market cap stands at $115.25 billion. Despite these positive results, Deere has cut its annual profit forecast for the second time, now seeing fiscal year net income at $7.0 billion, down from the previous range of $7.50 billion to $7.75 billion. This revision is attributed to a slowdown in demand as farmers purchase fewer tractors and combine harvesters due to falling crop prices. Consequently, Deere's stock slid 5% on the updated guidance, and the company saw a 6.3% decline in pre-market trading. Worldwide net sales and revenues decreased 12% for the second quarter and 9% for the first six months. The EBIT for the quarter dropped 21%, with Financial Services experiencing a 410% increase.