Deere & Co. (NYSE:DE) is navigating significant economic headwinds by focusing on internal discipline, company executives said Thursday, as it revealed that tariffs enacted under the Donald Trump administration are now expected to cost the company nearly $600 million this fiscal year.
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Deere Tightens Profit Forecast
Speaking on its third-quarter earnings call, management outlined a strategy of aggressively reducing equipment inventories to match market demand while managing costs.
This approach comes as the agricultural and construction giant reported a 9% decline in net sales to $12.018 billion amid challenging market dynamics and customer uncertainty. The company has now tightened its full-year net income forecast to a range of $4.75 billion to $5.25 billion, compared to its previous forecast of $4.75 billion to $5.50 billion.
Inventory Drawdowns To Mitigate Tariff Impact
The core of Deere’s strategy is a sharp focus on operational efficiency. “The best way for us to function as …