Shares of Deere & Company (DE)💛 dropped Thursday morning after the company'🌱s sales for the first quarter of fiscal 2025 fell well short of what analysts had expected.

The maker of John Deere tractors and other farming and construction equipment said sales fell 30% year-over-year to $8.51 billion, about $500 million below the analyst consensus compiled by Visible Alpha. The company said it earned $3.19 per share for the quarter that ended Jan. 28, down from $6.23 per share a year ago but 8 cents above estimates.

The company also affirmed its full-year profit forecast of $5 billion to $5.5 billion that it 澳洲幸运5官方开奖结果体彩网:outlined last quarter, w🐬ith the midpoint roughly 𝔉in line with the $5.27 billion that analysts are looking for currently.

Deere Forecasts Sales Down 10% to 20% as Agriculture, Const♍ruction I🥃ndustries Contract

The sales outlook wasn't particularly bright for the manufacturer either, as Deere expects its own sales and the broader agriculture and construction industries will all decline this year.

Deere projects sales down 10% for its small agriculture and turf segment, along with a 10% to 20% decline in production and precision agriculture, and its construction and forestry division. The forecast "does not reflect the impacts of potential import tariffs by the U.S. and retaliatory actions taken by other countries given the uncertain and rapidly evolving environment."

Deere shares were down more than 2% Thursday morning after𓂃 entering the day up about 22% in the last 12 mont𒈔hs.