Deere & Company (NYSE:DE) delivered fourth-quarter earnings that surpassed analyst expectations, even as the company grappled with substantial market headwinds. The agricultural and construction equipment manufacturer saw its stock climb more than 8% yesterday. For the quarter, Deere reported net income of $1.245 billion, or $4.55 per share, exceeding the $3.89 per share expected by analysts. Revenue totaled $11.14 billion, well above the Street consensus estimate of $9.23 billion. However, these results marked significant year-over-year declines, with net income dropping 47% and overall revenue falling 28%. The company’s Production & Precision Agriculture segment experienced the largest decline, with net sales plummeting 38% year-over-year to $4.305 billion. The Small Agriculture & Turf and Construction & Forestry segments also saw declines of 25% and 29%, respectively, reflecting broad challenges across its business lines. Deere outlined a cautious fiscal 2025 outlook, forecasting net income of $5.0 billion to $5.5 billion. The guidance reflects continued pressures across its key markets, including an anticipated 30% drop in U.S. and Canada large agriculture equipment sales and a 10% decline in small agriculture, turf, and construction equipment sales in the region.