John Deere sales fall 12% in 2025

1610G forwarder at work (Photo: John Deere)

The manufacturer posted full-year net sales of $45.68 billion, down from $51.03 billion in 2024, while net income fell to $5.03 billion from $7.1 billion the previous year.

Production & Precision Agriculture, its largest division, recorded a 17% decline, while sales in Construction & Forestry were down 12% year-on-year.

Despite the overall drop, Deere said pockets of stabilisation emerged late in the year.

Fourth-quarter worldwide net sales rose 11% to $12.39 billion, although quarterly net income slipped to $1.07 billion, compared with $1.25 billion in 2024.

John May, chairman and CEO of John Deere, said: “This past year brought its share of challenges and uncertainty, but thanks to the structural improvements we’ve made and the diverse customer segments and geographies we serve, we were able to achieve our best results yet for this point in the cycle.”

May added that despite ongoing headwinds, the company believes 2026 will mark the bottom of the large ag cycle, with expected growth in small agriculture & turf and construction & forestry helping to offset continued softness in its core ag markets.

Looking to next year, Deere has forecast 2026 net income of between $4.0 billion and $4.75 billion.