Filing Flows › Deere (DE) › Q2 FY25
Deere (DE) Q2 FY25 earnings results (second quarter fiscal 2025)
10-Q filed May 29, 2025
Deere (DE) reported revenue of $12.8B for the second quarter fiscal 2025 (Q2 FY25), -16% from a year earlier and +50% from the quarter before. Operating margin was 18.3%, net earnings $1.8B (14.1% of revenue).
Deere, Q2 FY25: revenue $12.8B (-16% year over year), operating margin 18.3%, net earnings $1.8B, operating cash flow $1.7B. The chart follows the revenue to costs, profit and cash.
| Q2 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.8B | +50% | -16% |
| Operating profit | $2.3B | +161% | -25% |
| Net earnings | $1.8B | +108% | -24% |
| Operating cash flow | $1.7B | — | -8% |
| Free cash flow | $1.5B | — | +0.1% |
What changed
Revenue was $12.8B in Q2 FY25, down 16% year over year and up 50% from the previous quarter. Net Sales was the largest line at 88% of revenue. Net Sales lost $2.4B year over year (down 18%), 99% of the total change.
Operating profit was $2.3B, a 18.3% margin (down 2.1 points year over year). Total costs fell 14% while revenue fell 16%. Net earnings were $1.8B, down 24% year over year. The effective tax rate was 23.1%.
Operating cash flow was $1.7B (down 8% year over year), 94% of net earnings. Non-cash charges added back $0.56B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.68B. Capital expenditures of $0.20B left free cash flow of $1.5B.
Questions
What was Deere's revenue in the second quarter fiscal 2025?
Deere (DE) reported revenue of $12.8B for the second quarter fiscal 2025 (Q2 FY25), -16% from a year earlier and +50% from the quarter before.
Was Deere profitable in the second quarter fiscal 2025?
Operating profit was $2.3B (18.3% of revenue) and net earnings $1.8B.
Source: Deere 10-Q on SEC EDGAR.