By Denny Jacob

Deere broadened its outlook for the year in response to what it called a dynamic environment, a sign of how much uncertainty businesses are facing from tariffs proposed by President Trump.

The world's largest seller of farm equipment now sees net income in fiscal 2025 in a range between $4.75 billion and $5.5 billion. It previously forecast net income for the year between $5 billion and $5.5 billion.

Deere maintained its guidance for sales in its production and precision-agriculture business to drop 15% to 20% in the current fiscal year, while its construction-and-forestry unit is still expected to pull back 10% to 15%. Small agriculture and turf sales are now expected to decline between 10% and 15% in fiscal 2025, compared with prior guidance of a 10% decline.

"Despite the near-term market challenges, we remain confident in the future," said Chief Executive John May.

Deere noted that its outlook incorporates global tariffs that are in effect as of May 13.

In the three months ended April 27, Deere reported net income of $1.8 billion, or $6.64 a share, down from $2.37 billion, or $8.53 a share, in the prior-year period. Analysts polled by FactSet expected $5.58 a share.

Sales declined to $11.17 billion from $13.61 billion. Analysts polled by FactSet expected $10.95 billion.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

May 15, 2025 07:16 ET (11:16 GMT)

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