John Deere warned that tariffs could cost the company $600 million this year.
In an earnings call on Thursday, the iconic agriculture brand revealed it has already attributed $300 million worth of costs to tariffs for 2025.
CNBC reported that the company beat on the top and bottom lines for it's third quarter earnings, but had a significant year-over-year decrease in net income and sales that resulted in a 7% in its share price on Thursday.
“We remain committed to delivering solutions that address our customers’ current needs while also laying the groundwork for future growth,” CEO John May said in the report. “The positive outcomes we’re enabling reinforce our confidence in Deere’s future despite near-term uncertainty.”
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