Deere & Company reported its third-quarter earnings for 2025, posting revenue of $12.02 billion, surpassing estimates of $10.31 billion, and earnings per share (EPS) of $4.75, above the expected $4.63. However, the company experienced a 24% year-over-year decline in EPS and a 26% drop in net income to $1.29 billion. Revenue fell 9% year-over-year to $10.6 billion in some reports, reflecting mixed figures depending on segment reporting. Production and Precision Agriculture sales declined to $4.27 billion, below estimates. Deere lowered its full-year net income outlook to a range of $4.75 billion to $5.25 billion from a previous forecast of up to $5.50 billion, citing ongoing uncertainty among customers and the impact of tariffs and low crop prices on margins. The company anticipates tariff costs of approximately $600 million for fiscal 2025, up from an earlier estimate of $500 million. These tariff-related costs, combined with shifts in demand toward equipment rentals and soft market conditions, have pressured Deere's profitability and led to a reduction in its earnings guidance. Following the earnings release and outlook revision, Deere's shares declined by about 6% to 7.6% in pre-market and early trading. Analysts have adjusted their price targets accordingly, reflecting the challenges Deere faces amid rising costs and tariff impacts.