BUZZ-Deere falls after co posts lower quarterly profit
ReutersFeb 13, 2025 11:26 AM
Farm equipment maker Deere & Co's shares DE.N fall 8% to $438 premarket
Co reports lower first-quarter profit as more farmers switch to renting tractors and other equipment due to weak incomes and high borrowing rates
Q1 2025 net income fell 50% to $869 mln or $3.19 per share, from $1.75 bln, or $6.23 apiece, a year ago
Q1 worldwide net sales and revenue fell 30% to $8.51 bln
In 2024, stock had risen nearly 6% YTD
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