John Deere beat on the top and bottom lines Thursday but said that the company is taking a large hit from tariffs.
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John Deere
is warning that tariff costs for the agricultural machinery company could reach a total of $600 million for the fiscal 2025 year.
The company released its fiscal third-quarter earnings report Thursday, beating on the top and bottom lines but posting significant year-over-year decreases in net income and sales.
The stock sank roughly 7% in midday trading.
Trump’s tariff policies are hitting John Deere’s customers hard.
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