India, Aug. 14 -- Deere & Co. shares were losing around 8 percent in the pre-market activity on the NYSE, after the firm on Thursday trimmed the higher end of its fiscal 2025 profit outlook range after reporting weak results in its third quarter. The farm and construction equipment manufacturer noted that its customers remain cautious amid ongoing uncertainty. Meanwhile, quarterly earnings per share and top line beat market estimates.
For the year, the company now projects net income attributable in a range of $4.75 billion to $5.25 billion, compared to previous estimate of $4.75 billion to $5.50 billion.
In the third quarter, Deere's net income fell 26 percent to $1.289 billion from $1.734 billion last year. Earnings per share were $4.75...