John Deere reported weaker fiscal third-quarter results as softer demand in the agricultural sector weighed on earnings and sales, according to CNBC. The company warned it could face up to $600 million in tariff-related costs this fiscal year, with $300 million already incurred. Deere also announced 238 layoffs in Illinois and Iowa following thousands of prior job cuts. Farmers have cut back on equipment purchases due to lower crop prices, rising costs, and climate challenges. Deere is investing $20 billion in U.S. manufacturing over the next decade and sees growth in Europe and South America as offsets to North American weakness. Analysts remain generally optimistic, with many calling 2025 a likely bottom for tractor sales and pointing to long-term upside in precision agriculture. Deere shares are up nearly 30% over the past year.
